BrisConnections, a cautionary tale

Count_Dante

I cannot believe that the investment bankers did not forsee this problem. Is this form of share offer common? Why are many of the small investors asian?

Here is an article on the matter here:
http://www.theaustralian.news.com.au/story/0,25197,25406830-5013945,00.html

Generali

Duplicate post. Pls delete.

Generali

Count_Dante wrote: »

I cannot believe that the investment bankers did not forsee this problem. Is this form of share offer common? Why are many of the small investors asian?

Here is an article on the matter here:
http://www.theaustralian.news.com.au/story/0,25197,25406830-5013945,00.html

Which investment bankers do you mean, the people who put together the initial deal?

I wouldn't say this form of deal is common but it's normal enough that it should be on the normal investor's radar. Several UK privatisations (incl. BT) were done on this 'part paid' basis.

I suspect that a lot of investors are Asian as they are less likely to read the Fairfax/Murdoch papers and so are less likely to be aware of the problems surrounding the company. Also, there are people in Aus (and probably in the UK) who use their race to draw in others of the same race into confidence tricks.

JayScottGreenspan

Here we go. From their own website:

Can I transfer my BrisConnections securities to another person?

Yes, you can transfer your securities to another person by off-market transfer. Simply contact the Link Market Services to have one mailed to you.

Generali

JayScottGreenspan wrote: »

Here we go. From their own website:

It's too late for people to dodge the payment that became due yesterday.

JayScottGreenspan

Generali wrote: »

It's too late for people to dodge the payment that became due yesterday.

Yeah. Bummer for them.