501 replies to this topic

[soutie]

At a glance it appears they've used most of the rights cash to cover the losses reported here..!

 

JSE's only listed ponzi.....roll up.....roll up.....

[gamma]

Abil statement.
Ouch!

[Jonny]

There seems to be a ton of insider trading these days. Look at Pinnacle, possibly even ADI (Keith tweeted about ADI's quick climb a day/hours before the release of great results - that one never got an investigation though) and now ABIL. This seem to happen way more often than one would care to admit. The core problem is that it is just too hard to prove. 

[gamma]

Spot on Procrastinator. No doubt about it. Hope they nail these sons of *******.

So today on Moneyweb, "JSE may probe Abil for insider trading" re price spike 2 days before the edcon deal.

Don't mean to say told you so but.........

[Procrastinator]

So today on Moneyweb, "JSE may probe Abil for insider trading" re price spike 2 days before the edcon deal.

Don't mean to say told you so but.........

[Procrastinator]

JOHANNESBURG (Reuters) - African Bank Investments has entered a non-binding agreement with Edcon to be a secondary credit provider for the South African retailer's customers, the two companies said on Friday.
 
The bank, which also sells furniture on credit, has suffered from a rise in bad loans as debt-laden South Africans struggle to meet their obligations against a backdrop of stubborn unemployment and rising inflation.

So firstly, the price spike comes before the announcement, what does that tell say?
Secondly, more borrowers that can't pay, hmmmm.

[Queen B]

JOHANNESBURG (Reuters) - African Bank Investments has entered a non-binding agreement with Edcon to be a secondary credit provider for the South African retailer's customers, the two companies said on Friday.

 

The bank, which also sells furniture on credit, has suffered from a rise in bad loans as debt-laden South Africans struggle to meet their obligations against a backdrop of stubborn unemployment and rising inflation.

[TheLittleGuy]

ABIL having a strong day today

Anyone seeing any tangible reason for the move?  1H trading statement due out first week in May. 

[Queen B]

ABIL having a strong day today

[Queen B]

Seems ABIL has bounced back a bit

[Procrastinator]

So I'm pretty amazed that a company with a business model like this one is actually abil /oops! ,able to recapitalize so easily ie with the rights offer and now the bond issue in Swiss francs, WTF, I mean the bottom line is that their unsecured loans are not being paid back.
So what are they going to do?, move their target market up to higher LSM groups??, dream on, so what do they do?, yet investment banks keep stumping up more cash to loan out to people that can't repay it.
I just don't get it, only thing I can think of is that the big investors holding this stuff have no choice but to prop the thing up until they can softly softly EXIT without causing collapse by dumping.

Help me understand people.

[soutie]

Goldman initiated research today with a sell rating and price target of 8.79

Goldman were the underwriters for the rights offer.....

 

I would guess they have a huge short on ABL from last year already....

 

When US fund managers & even local funds line ABL up much more pain to come.

 

The R8.79 you mention will be a target price for all now. Me thinks.....Hope I'm wrong my by in would be +/- R8

[stoffels]

Goldman initiated research today with a sell rating and price target of 8.79

[soutie]

New low of R9.35 today!

Offers below that now...!

[Queen B]

New low of R9.35 today!

[soutie]

Some pretty heavy volumes going through lately.

 

PIC & CML lost the battle at R11 now R10 is the line in the sand.

[delta66]

i sold as well...at couple thousand loss last week   no regrets walking away from this.

[@sirgrantfleming]

Its clawing its way back up again

I took this opportunity to get out - loss of 5k oh well

[HendrikB]

Where do you see the price going Hendrik?
Do you still have some ABL shares?

i have shares but didnt participate. Whats happening now is the big boys starting to exit. I reckon it will go below R10 unless something pops up.

[Queen B]

Shorts are sharpening their knifes for next drop. Let's move on. Nothing new here.

Where do you see the price going Hendrik?

Do you still have some ABL shares?