Tp Icap Share Discussion Threads

[dmore2] 09/11/2020 07:26

numbers not looking to good

[davwal] 29/10/2020 17:55

Probably the 160p taken from today’s price...

[sick of it] 29/10/2020 17:06

Fully agree.The only thing is that the disaster also brings in an opportunity.But who knows the best buy and sell points?Any takers?There was a flash crash to 160p in march so I am wondering if it will visit that as the bottom price?But the further complication is the RI price?What is the RI price?

[davwal] 29/10/2020 13:36

Either Management were grossly incompetent by announcing a future cash raise months in advance or they were happy to risk the share price getting trashed in the meantime. A very peculiar way of doing business to my mind. Heaven knows where the bottom will be and the degree of dilution involved. Pathetic!

[dhoult12] 28/10/2020 10:07

So much push and pull with this. I still think holding a huge raise over it for months is an "odd" thing to do. When the market is full of risk already its another large one to throw in. Oil majors dire share prices wont help either given profit made from commodities on this.

I also cant help but think if raising that cash was easy without a discount, why not just get on and do it? they have announced it all, so should have done all their DD (Surely?) then its a prospectus and off to build the book...if buyers are there for the cash.. job done.

Longer term though, you would hope transaction levels recover in 21/22/23. Bro rates? Well id be shocked if the likes of BP/Shell and co were not asking for significant discounts.

[sick of it] 28/10/2020 08:58

Hit 185p today. Unreal.That could well be the low.But you never know in this market.In any case, it's very good value on these levels.Future yield should be well over 10%

[tenapen] 23/10/2020 15:19

I'm Back in - over many years this will be my fourth attempt at timing my buy - Fingers crossed.

[hatfullofsky] 22/10/2020 19:31

I'm literally (spread) betting it will. Think we'll settle around 259 until further news

[hatfullofsky] 22/10/2020 19:30

Support at 200p

[hatfullofsky] 22/10/2020 19:30

I presume this has to be signed off at a EGM with shareholder approval. The last transaction around £21m took them 7 months to complete !!!! How long will this one take ?

[sick of it] 22/10/2020 12:26

They screwed up.The raise should have been done right after announcement. Now the price is drifting ever lower until it's done. It appears a little incompetent?

[spooky] 22/10/2020 11:44

I thought they mentioned January.

[dhoult12] 22/10/2020 10:51

Agreed. Although if that excessive demand was there you would have expected the book to be shut by now and the raise announced.

Not to say it wont be close to market but rather wishful thinking IMHO that it will be a premium to current price given the timeframes.

[hatfullofsky] 22/10/2020 10:48

Well yes and no. You would not be able to buy $500m at the current market

[dhoult12] 22/10/2020 10:20

Well yes.. Question is how much?

They had not as of last week built the book (otherwise directors could not buy shares).

If you are currently being asked to take part in the placing you are not going to for a price higher than todays price, given the size you will be after a discount. How much is the question.

Furthermore if you said "yes im in for X" before at 250p and now its trading at 200p you will only now do it for 190p etc. Shutting the book is key.

[hatfullofsky] 22/10/2020 10:07

Placing price will be a discount to the market price on the day it was first announced 29/09 - 280p

[sick of it] 22/10/2020 08:10

Under £2. That's crazy

[topvest] 21/10/2020 20:13

They need to get on with it. Not very happy with this.

[dhoult12] 20/10/2020 14:27

At a guess (as always) this will fall until the placing price is announced which given size / market cap, one assumes will be at a discount to market. Then people can asses the opportunity without the fear of a short term loss by placees just selling the share down to the placing price.

[sick of it] 16/10/2020 11:51

Good point.The mistake would be the voice purchase because it was a slowly declining business.Future is electronic.However, this is why tcap share price been poor for long time so I thought it should have been priced in - but I guess not.Luquinet is not a mistaken purchase to me it appears to recognize the future. And the share price gets punished because that's what ftse250 is like!UK market is not like the USA where even bad news is good news. In my view, this doesn't make the voice purchase necessarily a mistake - but it definitely was poor value for money. Now this looks like excellent value for money. Very simple. Market is confused but I think tcap is doing the right thing here.

[dhoult12] 16/10/2020 10:56

Lindowcross what do you mean by equal relationship with major banks? Tp icap are a supplier to them. You can't force someone to use a product.

I get you can move all their liquidity onto it, which would then force them to go there however that has the impact of destroying their existing voice buisness. You don't do the same trade twice.

I think the market has reacted the way it has because of that. Icap purchase was all about voice this is electronic. Okay, but which was the mistake?

[lindowcross] 16/10/2020 07:54

I understand one of the issues for Liquidnet was that powerful US banks were against it, for obvious reasons. So the banks certainly weren't supportive. Thus I agree with Justintime @ 140, the business is likely to do better within a more powerful group like ICAP which - hopefully - has a more equal relationship with the banks. I have topped up at this share price.

[bench2] 14/10/2020 21:09

Other board members have been allowed to buy shares ....... very strange given the imminent rights issue . Just imagine the reaction if the board decides to radically cut the rights issue size in favour of taking on more debt ........ It all smacks of insider trading .

[topvest] 09/10/2020 20:42

I suspect its the latter, but its a tad borderline in my view. None of us know the timing of the rights issue or pricing, but I suspect he has a good preliminary idea otherwise they wouldn't have announced the acquisition!

[dhoult12] 09/10/2020 20:34

Bscuit we get he bought in the market issue is if the raise price was known to him he couldn't or shouldn't have as that would be trading on insider information.

Which suggests either he's breaking the law or they haven't finalised the book build or pricing as of today.

Have a good weekend all.