IPCO

Since the Notes Subscriber had been converting so many of the notes into high volume of shares, are they trying to become substantial shareholder of ipco to control the company or what?

Hi,
Do you think they have intention to be shareholder?
These player are big time expert in making use of those excess shares to make a profit.
They would just convert at a discount % in big volume and then dispose off for a quick gain.
Look at the huge volume generated for the past 2-3 days transaction.
And I don't think it would stop here. They will be going for another tranche of shares using same tactics.
Anyway, as long as there is activity in the counter, it is good for shareholder.

It is clear , that they are already SSH.
The pressure is to complete the conversion fast . they can't convert below 2 cents. so they still need to push it down , shake off speculators. 
this is not for contra, with NAV at 5cents even after full conversion at 2cents .. ( my rough calculation) ( i calculated the Innopac and Blumont profit ) the profit is already to buy up 80% of the company. So as long as they are running to convert fast , and even better if prices stay higher and ther force to convert higher than 2 cents ..then is a SIGNAL it will RUN . 
accumulate at low prices .. BB already done thier collection at 1.9-2.0 cts ..2.2-2.3 should be near term low . below it .will mean no go ..if no more conversion .. watch this level.
My comments .. Vested small quantity 1.9-2.3. switching sold items into this one slowly.
Hope i am Right on this one.
 
 

Hi,
Did you notice the huge volume released out on Friday morning. All the way from 24cts >> 20 cts.
This was followed by quick buy up to 24cts.
The volume was in terms of hundred of millions. Not the kind for small boys like us.
I firmly believe that it would bounce up again to 3cts in near term.
What do you guys think?

Picked this good one up from Kit Whye Chan >


When Ipco reported their H1 results of $20.9M profit, embedded in the profit is a fair value gain of $25M. Taken that out, Ipco should be reporting a loss. On Jan 28, the company proposed a placement of 350M ordinary shares at 0.0198 per share. On Jan 28, the company raised $60M 1% convertible Notes which will eventually be converted to 2,978,568,374 ordinary shares. Currently the company paid up capital is made up of 2,183,300,000 ordinary shares. With the new 350M ordinary shares and the eventual conversion of Notes into ordinary shares, the company paid up capital will eventually come up to 5.5 billion shares. The dilution is almost 40%. I wonder why Ipco need so much money? This is a punting counter, not for long-term investment.

I am pretty concerned on how the money raised. 90% of it goes to DESHI in CHINA.
Does that subsidary really need so much money?
With the introduction of a new investor from MAL, it certainly look interesting.