I am not sure if DP World is causing for the volume to drop, does any one know if it is the DP World in combination with market correction are the main cause behind the bears market?
I am extremely pissed with the way my bank has gone about it. It took me two days, an accident, a broken set of specs and 3 hours off from work to get it done.
I visited 2 banks( 3 branches) and found not more than 50 people applying for the IPO. It might get oversubscribed but not like the usual IPO mania in UAE.
I visited 2 banks( 3 branches) and found not more than 50 people applying for the IPO. It might get oversubscribed but not like the usual IPO mania in UAE.
That's good news.
It also took me 3 hours off work & multiple visits to my broker & bank to apply for the IPO, & it would be really disappointing to be only alloted US$2000 worth of shares in return for all this effort.
I dont see DPW getting alot of subscription ... Dana gas IPO was smaller than this but the frenzy to subscribe for it was something ... i dont c it with this IPO ... DFM index behavior is also not consistent wid the presence of such a large IPO ... smaller IPOs have had bigger effects on the index than the DPW IPO ... i will be really surprised if it is oversubscribed ... i dunno how many ppl or institutions in other countries r applying ... i think the factors that might be affecting it are :
1. complicated process of applying.
2. complicated process of trading in DIFX
3. high PE
4. possibility of dhiram revaluation ... which wud cause losses to ppl buying in $
5. share price ( well atleast i think ) is quiet high.
anyone can add to the list ... there cud be something i missed ... T & SW what r ur thoughts on this ...???
It took me two days, an accident, a broken set of specs and 3 hours off from work to get it done.
That makes the subscription fees unexpectedly expensive . You deserve an extra allotment for that...
There was a comment from one of the Dubai Eye Business Breakfast guests this morning, I think he was from Algebra or Abraaj Capital (can't remember) about the DPW IPO not sucking out market liquidity. Which made sense, see ...
Bulls and Bears topic about market liquidity and recent downturn.
But he gave an odd sounding reason and I don't know if I heard correctly. It sounded like he was saying you can subscribe but you don't have to pay until after the subscription period closes. I thought you had to deposit funds with your application? Sounds like it from the literature...
DP World application form wrote:
... Application Forms must be accompanied by (i) a banker's cheque denominated in UAE dirhams drawn on a UAE bank in favour of "DP World IPO" or (ii) if the applicant has either a US dollar or a UAE dirham account with one of the Receiving Banks, an instruction to debit US dollars or UAE dirhams, as the case may be, from such account, ...
Your comments sound like valid points to me. The possible revaluation of the UAE dirham is an interesting one, I hadn't considered that.
I note this week that DP World is advertising on the radio, and large advertisements in the press. I don't recall that happening last week, or for any other UAE IPO. I'm not sure there's anything to be read into that since everything is different for this IPO.
Regarding the high PE, the Return on Equity (ROE) is one of the lowest I've seen for a UAE company. There's some more analysis in a post I did about DP World financial accounts. I feel like I've made an error somewhere, but it's not obvious to me. If anyone can spot anything ...
But he gave an odd sounding reason and I don't know if I heard correctly. It sounded like he was saying you can subscribe but you don't have to pay until after the subscription period closes. I thought you had to deposit funds with your application? Sounds like it from the literature...
The bank debited the amount on the very same day I applied for the IPO. I applied for a direct debit from my account.
I am extremely pissed with the way my bank has gone about it.
After trying for 2 days and enduring long queues (blatant preference was given to Emiratis, irrespective of what amount they put), I managed to hand in my application, and was given the blue copy minus the bank stamp/signature. Anyways got that rectified, but yes I found it strange that my account was debited on the same day as well.
Unlike the Dana Gas IPO, there isnt a mad rush to get this one - but I wouldnt be surprised if it does get over-subscribed many times over.
Well. I went to Mashreq Bank MOE Br, time = 11:46 hrs.
foundout I would require to bring proof of account with broker.
so I have asked brokerage company to send me a fax copy of my statement.
I submitted my papers, within 25 mins I got my payment slip and stamped copy.
left the br at 12:38 pm. (15th Nov)
so my part no complains, all went just fine..
BTW I have made my managers chq on same day
Ahhh..... Have addressed that comment in a separate topic.
Well it was just an observation, no racial intolerance or any of that nonsense from my side. I hope it wasn't taken in the wrong vein. But yes, we are all here to learn and share knowledge and hopefully make some money. So peace out =)
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
Disclaimer: Investing in stocks is risky, you can lose some or all of your money and/or other assets. Anything you read on this site should be regarded as the opinion of the author only and is not to be taken as advice to buy, sell, or hold stocks and/or any other investments. Seek professional advice and do your due diligence before making investment decisions. In particular, do not assume anything you read on this site is correct or accurate. You should accept that only you can be responsible for any investing decisions you make.
2008 FY
FAQ
Search
Print-friendly
Profile
Private messages
Register
Log in
Ahhh..... Have addressed that comment in a 