Why Would Someone Buy Maxis at $15.60

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Jun 20 2007
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For those who are still holding to your baby Maxis Communications Berhad (KLSE: MAXIS, stock-code 5051), you should know that tomorrow, Thursday 21-June, is the last day for you to transfer the shares to Ananda – only if you decided to get full refund of $15.30 pershare from the tycoon. Ananda has already secured more than 90% supporters for his evil plan.

Yes, it’s only $15.30 and not $15.60 as the offer price of $15.60 actually “inclusive” of dividend amounting to $0.30 per share (of which have not reach your doorstep yet). I can’t blame you if you didn’t know that because it was stated in an evil way – “fine-print”. So it puzzled me that there were people willing to snap the stocks at $15.40 per share yesterday. And today, minutes before the market closes, I was even more amazed when the stock (63 shares to be exact) changed hands at the price of $15.60.

Unless I’m totally wrong with the above info, it seems there’re some ignorant investors who buy without checking the facts. But then again, it could be due to some other reasons beyond my imagination. Now why did I say tomorrow being the last day? Reason being if you wanted to secure the full $15.30, you need to fill-up the transfer form early in the morning tomorrow and it’ll take one day (Friday) before the transfer completes, upon which you can hand-deliver the release document to the Registrar to complete the process. Maxis shares will stop trading from next Monday onwards, hence the Friday being your judgement day.

Of course if you value your remisier or broker and plan to let him/her enjoy the commissions, then you can sell anytime between now till Friday in the open market but as the saying goes, you’re running the risk of possible stock-price pressure which might goes below $15.30 per share as no one would want to hold shares which are not tradable.

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