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Posts Tagged ‘news-com-au’
ASIC lifts short selling banMonday, May 25, 2009 : Permalink News.com.au – The Australian Securities and Investments Commission has lifted the ban on short selling financial stocks.
Short selling was temporarily banned on September 21 last year while the share market was extremely volatile. The ban was lifted for non-financial shares in November. Tags: australian securities and investments commission, financial stocks, financial-shares, news-com-au, share market trackback from your site.Hedge fund monitor says short selling ban is ‘rubbish’Wednesday, March 11, 2009 : PermalinkNews.com.au – An independent monitor of local hedge funds has rubbished claims domestic financial stocks would be targerted if the ban on short selling was lifted. Australian Fund Monitors’ chief executive Chris Gosselin hosed down concerns expressed by the Australian Securities and Investments Commission (ASIC) to extend the short selling ban on financial stocks for a third time until May 31. The risk of damage from aggressive or predatory practices from short selling justified any loss of market efficiency or price discovery caused by extending the ban, ASIC said last Thursday. Tags: asic, australian securities and investments commission, chief-executive, chris gosselin, financial stocks, last thursday, market efficiency, news-com-au, predatory practices, price-discovery, risk, third time trackback from your site.China\’s Sinosteel to proceed with Midwest takeoverThursday, September 18, 2008 : PermalinkAP – Chinese steelmaker Sinosteel Corp. has taken control of 98 percent of Midwest Corp. and will proceed with compulsory acquisition of the Australian miner, Midwest said. In a brief statement Wednesday, Midwest said Sinosteel would recommend de-listing the company from the Australian Securities Exchange. The conclusion of the deal marks the first successful hostile takeover of an Australian firm by a Chinese entity. The exchange released a notice from Sinosteel to Midwest that said the Chinese company had gained a 98.52 interest on Monday, after U.S. hedge fund Harbinger Capital agreed to the Chinese firm’s offer for its 15.2 percent stake. Also Monday, major shareholders Murchison Metals Ltd. and Armadale Offshore Inc. accepted Sinosteel’s takeover bid, giving up their 9 percent and 12 percent stakes in Midwest. Sinosteel launched a $1.36 billion bid for Midwest in December last year, and gained a controlling stake in July. 
Tags: aftermath, company-directors, endeavor, handsome-returns, img-src, july-14, lead-investor, microsoft-deal, midwest, mistrust, mortgage-market, news-com-au trackback from your site. |
