Eros Share Discussion Threads

[czar] 04/11/2013 08:46

someone knows something they just paid 310 for stock?

[mdara] 02/11/2013 19:16

I think if you use a Spread bet you avoid a lot of the hassle.

[rivaldo] 01/11/2013 13:39

Correct - no confirmed timetable as yet. Hopefully soon :o))

[joe_satriani2] 01/11/2013 12:55

Am I right in thinking there is no confirmed date for the delisiting? The update stated the shares would delist the day after the proposed listing in USA, which would not be earlier than Monday 4th. So I could still sell these on Monday?

[rivaldo] 01/11/2013 11:44

EROS have pulled out all the stops to win global rights to the new Salman Khan film in competition with Disney, UTV, FOX etc.

It's to be released in January, so will make a big splash post-IPO hopefully. Presumably EROS will pre-sell as usual and minimise any risks (which is what is great about their model):



"Sohail-Salman film bags Rs 110-cr deal
Bharati Dubey, Mumbai Mirror | Nov 1, 2013, 12.00 AM IST

Eros International has acquired the distribution rights of Salman Khan's 'Jai Ho'. The industry grapevine is that the deal was signed for Rs 110 crore. Some of the other players in the race were Disney UTV and Fox Star Studio and buzz is that with the winning bid, Eros has netted distribution right for both India and overseas.

Sohail was in talks to sell the distribution rights since almost two months.Eros and Salman go back a long way. The production house had earlier distributed 'Wanted' and 'Ready', bought the overseas rights of 'Dabangg' and 'Dabangg 2' and even produced 'Veer'.

'Jai Ho', which is slated for a January 2014 release, is being directed and produced by Salman's brother Sohail Khan. The film also stars Sana Khan, Daisy Shah and Tabu in main roles."

[zho] 31/10/2013 11:09

Boonboon,

Yes, of course. I remember that now.

[boonboon] 31/10/2013 08:57

Selftrade have always traded NYSE shares as long as they were on Crest. the problem with this is that EROS isn't and won't be on crest. I therfore now also have the paper certificate that I don't yet know what I'll do with.

[zho] 31/10/2013 08:49

Sumitos,

>>I use Selftrade and when it looked like Eros would list on the NYSE they sent me the share certificate for my holding and said they couldn't trade it for me once it transferred, which is a right drag!>>

Same here, but that was a couple of years ago, and I think I got a mail from them saying that they do trade NYSE shares now. Too late for me of course - I transferred my shares to Stocktrade.

[rivaldo] 31/10/2013 08:40

Sumitos, I suppose you'll have to set up an account at another broker. I already have an International Trader account at Barclays - they'll just transfer the stock across from my normal account.

I suppose at present there are sellers around:

- funds/institutions who can't hold US-quoted shares
- PIs who can't be bothered to hold US-quoted shares
- PIs who are stale and happy to take profits

It'll be interesting to see if buyers take up the slack prior to the US IPO/AIM delisting date, given the quite substantial discount to the forthcoming IPO price range.

[sumitos] 30/10/2013 21:00

I use Selftrade and when it looked like Eros would list on the NYSE they sent me the share certificate for my holding and said they couldn't trade it for me once it transferred, which is a right drag!

[smurfy2001] 30/10/2013 10:08

No idea, i'd like to know for iii, not heard from them...

[jlo10] 30/10/2013 10:06

TDW state the following

"If the shares are approved for listing on the NYSE, we will attempt to transfer the shares in order to you to continue trading. This process may take up to 6 weeks, however we shall endeavour to complete the transfer as soon as
possible."

Anyone any idea as to whether a six week delay would be normal.

Thanks

[rivaldo] 30/10/2013 09:59

Thx Boystown. Following the NYSE listing I'm hoping for 400p+. Not long to wait hopefully.

Even the subsidiary's share price has risen nicely!

Good coverage in Variety will help draw attention here:

hxxp://variety.com/2013/biz/news/eros-to-raise-117-million-in-new-york-share-flotation-1200774405/

"Eros to Raise $117 million in New York Share Flotation
Eros International to list on Wall October 29, 2013 | 04:53AM PT

HONG KONG – Eros International, the leading overseas distributor of Indian films, is to raise upwards of $117 million as it makes its long-awaited shift of share listing from London to New York.

The Isle of Man-registered company will sell a total of 12.5 million A shares, comprising some 62% newly-issued shares and the balance sold by existing investors. The company's investment advisors set an indicative price range of $15-$17 per share. The total issue size could expand to $244 million were the sale to be conducted at the top end of the price range and additional shares to be taken up by underwriters according to an option.

The company is currently listed on London's second tier Alternative Investment Market, and with (unconsolidated ordinary) shares trading at GBP2.87, the company's current market capitalization stands at GBP375 million or $606 million.

Eros has previously said it believes the relocation of the listing would benefit the group as New York offers a deeper market for the shares and a larger pool of media-specialist investment analysts."

[boystown] 29/10/2013 20:52

Apologies if I'm repeating what people already know; but the IC's excellent Simon Thompson reiterated his target price of 350p at lunchtime today in a reply to a specific question following a seperate article.

[smurfy2001] 29/10/2013 16:01

Broker offering 2.935

[smurfy2001] 29/10/2013 16:00

LOL

Bid / Ask 290 / 305

[smurfy2001] 29/10/2013 15:59

Breaking new high for the day

301.00 +47.00 (18.50%)

[rivaldo] 29/10/2013 15:37

Change your broker then :o))

Top-notch list of promoters for EROS re the IPO - "Deutsche Bank, BofA Merrill Lynch, UBS Investment Bank, Jefferies and Credit Suisse" per the article below.

I wonder if we'll see any American buying now, getting in before the shares are available post-IPO at higher prices:

hxxp://www.renaissancecapital.com/ipohome/news/indian-film-distributor-eros-international-sets-terms-for-$200-million-ipo-16528.html

"Indian film distributor Eros International sets terms for $200 million IPO
10/29/13

Eros International, which produces and distributes Indian films in over 50 countries, announced terms for its IPO on Tuesday. The Secaucus, NJ-based company plans to raise $200 million by offering 12.5 million shares (38% insider) at a price range of $15 to $17. At the midpoint of the proposed range, Eros International would command a fully diluted market value of $818 million.

Eros International, which was founded in 1977 and booked $208 million in sales for the 12 months ended September 30, 2013, plans to list on the NYSE under the symbol EROS. Deutsche Bank, BofA Merrill Lynch, UBS Investment Bank, Jefferies and Credit Suisse are the joint bookrunners on the deal."

[smurfy2001] 29/10/2013 15:24

Rivaldo,

My broker was offering me 280 (so 10p spread).

298.50 +44.50 (17.52%)

[czar] 29/10/2013 14:34

There is a good arb opportunity here, 290p to somewhere between 330p and 430p if you believe they will be well received in the States.

[rivaldo] 29/10/2013 14:13

Why do people always look at the published spread as if it's real?! Smurfy, a seller just got 284p against the published 280p bid price. What does that tell you? It tells you (1) the real spread is perfectly OK, and (2) the shares are in demand since sellers are getting excellent prices.

[jlo10] 29/10/2013 14:05

I guess Simon Thompson will mention it again soon and reiterate his price target of 350.
Possibly tomorrow.

[smurfy2001] 29/10/2013 13:58

Looking good chaps.

Bollywood dance time.