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[sharechat] ITC - does the current share price add up to the picture?

From:	"Osbert Sun" <osbert.sun@xtra.co.nz>
Date:	Tue, 28 Mar 2000 08:33:28 +1200

It's rather odd to me that the announcement of the market purchase of ITC shares by Sicence Centre International came at a time when the share price had been forced down in recent large sell-offs. And further, ITC chosen not to issue new shares to SCI as being done previously to other institutional investors. The rational has to be, IMVHO: (i) both ITC and SCI considered that at the current price, ITC shares are attractively priced; (ii) ITC has raised enough working capital for further expansion, so buying shares by SCI from the market would bring on board a strategic partner without having to dilute the values of the existing shareholders. So considering the obvious and a promising future, why didn't there seem to be lack of sellers on market last week? Curious? I'd rather consider that the situation has been a well-planned process of keeping the ITC share price down before SCI fills up its bag. While AIRVB remains probably one of the best options this week, I'd keep a watchful eye on ITC as well. The judgement is yours...

Kind regards,

Osbert Sun

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