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Old 06-30-2016, 06:02 PM   #1
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Default Investing question

I have a small position in this stock on the Toronto Venture Exchange.

Could someone read this news release, and interpret it as to how a retail investor can access this offering, or will we be shut out in favour of institutional investors? Can I just place an order online through my trading platform as usual?

http://www.marketwired.com/press-rel...mx-2139193.htm
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Old 06-30-2016, 06:14 PM   #2
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Old 06-30-2016, 06:21 PM   #3
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If you want units at the offering price you are likely going to need either a broker who has a connection with underwriters and access or contact the underwriting firms directly

The Offering is being conducted on a best effort basis through Dundee Securities Ltd., acting as lead agent (the "Lead Agent"), and including Cormark Securities Inc., CIBC World Markets Inc., GMP Securities L.P., Desjardins Securities Inc., Echelon Wealth Partners Inc. and Jett Capital Advisors, LLC (together with the Lead Agent, the "Agents").


Be careful, this might be a good deal but in a past life I moved a lot of stock on the Canadian exchanges and the only steeple who ever won were the initial investment firm and the market makers
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Old 06-30-2016, 06:22 PM   #4
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It's listed on my trading platform under IPOs. I went to the trade section of my platform & almost placed an order - didn't want to buy but wanted to see if I COULD. Short answer: yes. The TSX web site lists them; they may have started trading today & as of close of business, price was down 1.48% at $1.33.
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Old 06-30-2016, 06:44 PM   #5
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Sue, the $1.33 price is pre-existing shares. I was watching the level two quotes today because I want to pick up more, when I discovered IROC had halted trading, pending a news release from the company.

Thx, will check my platform to see if they show up under IPOs.

rryan, thanks, this is a really small position..the only spec part of our portfolio. I understand that it can totally disappear.
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Old 06-30-2016, 07:21 PM   #6
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My mistake rb - I didn't read closely enough to grasp that this was a further share offering.

I checked my trading platform again, made sure I was checking IPOs & new offers & sure enough, it says if you're interested, (& a member of that platform), call a certain number. I suspect the principles selling shares all have the same notice on their platforms.
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Old 07-01-2016, 11:00 AM   #7
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Quote:
Originally Posted by rryan View Post
Be careful, this might be a good deal but in a past life I moved a lot of stock on the Canadian exchanges and the only steeple who ever won were the initial investment firm and the market makers
What he said.
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Old 07-01-2016, 04:34 PM   #8
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It appears to be a typical follow-on offering by a company that is already listed. As noted above, you would have to contact one of the listed underwriters (or your broker, who will contact them) to participate. But, IMHO if the company (and price) is any good, institutional investors and favored clients of the brokers will already have locked up the entire deal.
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Old 07-01-2016, 05:12 PM   #9
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Yes, they are already listed on the TSX Venture Exchange, and are soon to be listed on the TSX itself. I have a feeling all new shares will go institutional.

Unfortunately, the new offering is not listed on my platform's "New Issues" list. Not sure if that's because of the release late yesterday, and holiday today or not. May be best to sit this out as it's purely a spec play anyway.

(Having now said that, it's bound to be a windfall for everyone else. )
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