Stirfry flies

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Sunday, September 20, 2009

Guaranteed IPO stock allocations in HK

Shirley Yam, one of the only handful of quality reporters in SCMP does this piece..


"Wouldn't it be great if someone offered you a guaranteed supply of the sought-after shares? Wouldn't it be even greater if someone offered you a guaranteed "bigger than usual" supply of every new offering in the coming months?

I know of such a lucky guy. Let's call him Mr Chan. Via an intermediary, he hooked up in July with someone that offered such a service.

The service isn't cheap. He has to give half of any profit to his counterpart, that is, he bears all the cost, risk and 50 per cent of the profit. And to get into the game, he has to put in bets with a minimum of HK$100 million.
"
Posted by freddyvatoo at gmail.com at 6:16 PM
Labels: Fraud, HK, regulation

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