Australian (ASX) Stock Market Forum

CNP - Centro Properties Group

I'm not too sure on this one, if you look at the market depth there is plenty of people willing to sell under 50.5cents ps and nowhere near as many wanting to buy over 50.5c, not sure how this will effect but i'm a little worried now.

approx 200000 wanting to buy up to 68c
approx 1000000 + wanting to sell down to 32c

hrmmm hurry up ann
 
to sell or not to sell?? well, i bought in @31c so im ahead at present. also, this has another 4 weeks to play out. to sell and buy back in is a risk. to hold is a risk. i think ill just hold and see how it plays out. lots of people have an upward interest in this now, as many new holders bought in today over the OP.
 
Hi all

Yes very fast moving stock today. Halt came all of a sudden after it tumbled. Just lengthened from what i wanted to ask just so i could post.

What does PRE_ NR mean?

Cheers
SG
 
last traded at 11:54 according to comsec. current time is 1:15pm.

looks to me like this trading halt is being extended (possibly to negotiate takeover)

also interesting to note (though a bit nerve racking), market depth has increased on the sell side from about 8mill before the halt to roughly 11mill after the halt, with the buy side floating around 24 mill.
 
hey, PRE_NR means the stock is in pre open stage pending a notice received.

I hope this ann is good, i'm over losing on centro lol

cheers marc
 
last traded at 11:54 according to comsec. current time is 1:15pm.

looks to me like this trading halt is being extended (possibly to negotiate takeover)

also interesting to note (though a bit nerve racking), market depth has increased on the sell side from about 8mill before the halt to roughly 11mill after the halt, with the buy side floating around 24 mill.

Hi, i've notice the time differences myself on all the share trading on etrade, I'm sure that their systems have had trouble with the adjustment on daylight savings etc. because the current time on their systems is correct, it's just the trading times are non daylight savings for some reason.
 
CENTRO IS NOW IN TRADING HALT!!!!


just thought i would announce that, this could be a really good thing for all us still holding our cnp shares.

looks like a few days to wait now...
 
Well it's been over 20 minutes now.

ASX query to CNP who request time to respond is my understanding

The thing I find intriguing (nerve wracking) is the sharp drop that immediately preceded the halt after such a steady climb. The volumes were solid but not out of synch with the day around the peak price but to drop 22% in 2 minutes was very strange.

The queue is looking less lopsided now too.
 
Well it's been over 20 minutes now.

ASX query to CNP who request time to respond is my understanding

The thing I find intriguing (nerve wracking) is the sharp drop that immediately preceded the halt after such a steady climb. The volumes were solid but not out of synch with the day around the peak price but to drop 22% in 2 minutes was very strange.

The queue is looking less lopsided now too.

agreed, that was a large drop even before the halt was called. however from looking at the market depth so far, and the current bid ask spread (all on comsec)

bids outweigh offers and the current bid price is .75 where offer is .3

also note that the bid price has risen since the trading halt (i think it was around .65 at the start of the halt)
 
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agreed, that was a large drop even before the halt was called. however from looking at the market depth so far, and the current bid ask spread (all on comsec)

bids outweigh offers and the current bid price is .75 where offer is .3

also note that the bid price has risen since the trading halt (i think it was around .65 at the start of the halt)

The quantity of low offers far exceeds the quantity of higher bids, there is one bid at $1.00 however only wanting 1000 shares, whereas there is 330000 shares wanting to be sold at 43 cents.

From experience i'm not getting too excited at the moment.
 
considering the speed of which the price went from 53c(?) to 65c, and the greater speed it went from 65 to 50.5, is that something the asx or governing body should look into?

is this what the asx is asking of centro on the cnp ann on the asx site?
 
Just found this article listed at 12:38pm AEDT from the Dow Jones Newswires,

DJ Centro Properties Halted In Response To ASX Price Query
03/04/2008 12:38PM AEST



MELBOURNE (Dow Jones)--Shares in Centro Properties Group (CNP.AU) were Thursday placed in a trading halt, pending a response from the Australian Securities Exchange to a surge in its share price of as much as 120%.

Shares in the cash-strapped retail-property firm jumped to a 6-week high after reports that potential suitors have submitted bids.

At 0221, trading in the shares was halted at 50.5 cents, up 71% on the day after rising as high as 65 cents.

Without citing its sources, The Australian Financial Review reported earlier Thursday that Centro Properties had received six bids, with the interest understood to be around buying up Centro shares at a maximum of 90 Australian cents a share.

The Wall Street Journal reported at least five suitors have submitted preliminary bids to purchase the entirety of Centro Properties, but Centro isn't resigned to selling itself at a fire-sale price, the newspaper said, citing people familiar with the situation.



-By Susan Murdoch, Dow Jones Newswires; 61-3-9671-4393; susan.murdoch@dowjones.com



(END) Dow Jones Newswires

April 02, 2008 22:38 ET (02:38 GMT)

Copyright (c) 2008 Dow Jones & Company, Inc.
 
Well after massive gains today, both CNP and CER are now on a trading halt.

Will be interested to see what happens either later today or Friday morning when trading resumes

Any thoughts?
 
im new to this stuff. im not sure how relevant it is but centro have now also requested a trading halt. it has come after the earlier ann of a trading halt by the asx.

is there anything to read into this? the ann is on the asx site.

http://www.asx.com.au/asx/research/...panyName=&principalActivity=&industryGroup=NO

trading halt me thinks would have been called at roughly the same time for both cer and cnp. the halt has been called because asx is requesting these 2 companies to explain the sudden (and large) increase in shareprices today.

only thing to do now is to wait until the halt is released, hopefully today but as trading is only open for a bit over an hour left today, me thinks the halt will be released tomorrow
 
was looking through the course of sales for cnp and it was interesting to see that by 10am, the pre open offers were already around the 35c mark.

couldnt see any huge sales today, but also found it weird to see that there wasnt any real reason for the share price to drop so fast just before the halt (except maybe that cnp shareholders got word shareprice was on the way up and wanted to get out)
 
Look at the media, from Melbourne to New York the financials are teeming with 'confirmations' of offers for takeover, all the while CNP say nothing officially.. IMO the price has skyrocketed due to this speculation of an announcement and I am very sure a lot of shorts sellers (official or loaned off market) would have panicked and rushed in to close out potentially losing positions, hence the massive volatility before halt.

Someone above mentioned the buy sell queue, doesn't mean anything in this kind of situation as when runs red hot like that people are in and out in split seconds, what your seeing is leftovers from the decline of covering shorts and I would imagine some day traders taking their profits though could go either way when she reopens, it depends on whats announced... IF Centro as part of the response to the ASX actually do offer a response such as 'due to speculation of bids' then in a seperate announcement make a formal release of where things are at in the current process then that'd help curtail the journo's speculations.

That said, given the media today I'd say they almost must now say officially whose bid on what and at how much etc. Or at least confirm whether or not firm locked in bids are on hand. More than likely for any bidders there would be some confidentiality clause as part of the process to prevent a bidding war, but really they can't keep where the process is at under lock and key forever, look at what happened today just on the sniff of something happening.
 
DId anyone sell out and make a lot of money here today? I had a feeling it was not going to last and I was going to sell but kept thinking 'will wait a bit longer' and also i was busy at work: then the slide and trading halt. THat's the way the cookie crumbles. I hope its going to go well for us tomorrow. I think I will sell next time the SP soars as it is too stressful and I need to reinvest in more stable unindebted and unendangered companies after this year. This is too much stress for a person like me who does not need high BP
 
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