Forum Archive Index - December 2000

["hugh webber" <hugh.webber@clear.net.nz>]

Presumably if the underwriters are having their arms twisted
to take up masses of unwanted FFS shares, and despite 
rather obvious and massive manipulation, the FFS price is
only just staying at 25 cents with some dips below before
frantic activity rescues it again......then there is going to be
some very large scale dumping of shares after the rights issue is
settled.
The conspiracy theories seem a little far fetched to me of 
Citic buying up heaps of rights altho they've obviously got their
dander up and are doing their best to rain on the FFS rights party.
I would think they are trying to minimise their exposure rather
than maximise it. The further downstream in added value 
processing a company is from the raw commodity the better
they do so I can't really see Norske Skog diving in.
Observers have noted that Fletcher wouldn't be unhappy to
see the CNFP go into receivership as it (Fletcher) has a 
mortgage on its assets no doubt contributing to Citic's bad
temper at being outmanoeuvred.
Fascinating stuff but probably not a good time to dive 
overboard on dreams of huge FFS rebounds with the US
(and world economy) slowing down and I thought I saw
something about log prices in south Korea weakening.
Wasn't it nice of Fletcher to give out those two lots of
free FFS shares in recent years.

cheers,
Hugh



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