Forum Archive Index - December 1999

["Paul Frost" <frostpt@ihug.co.nz>]

It appears that many new and inexperienced N.Z. investors, caught up in the
technology hype, paid way over the top for their Chrome Global shares on
Friday morning, only to see 40%-50% of their investment wiped 4 hours later
when it began trading in Australia.

Australian investors have far more experience with technology shares, and
they priced CGB at a
far more realistic level.It opened in Australia at 1.30pm our time and
initially traded at A.41c and closed the day at  A.39c.

At 1.30 pm in N.Z. the market for CGB collapsed to match the equiverlent
price in Australia, much to the dismay of early buyers in N.Z.

I feel that this unfortunate situation could have been overted had both
markets opened trading in CGB simultaniously.

Also of concern is the fact that stockbrokers were unable to confirm
holdings with the registry.
It is hardly conducive to a fair and open market when a large number of
shareholders are locked out from selling their shares.

In future it would be good to see a little less haste and a bit more
planning with issues like these.


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