Trading...trading...1...2...2.8 Billion
Once again, the Japanese fucked up an IPO on the Tokyo Exchange.
To the extent of 2.8 B$ (initial). I heard someplace Morgan Stanley made 220M off of that mistake. But the word is they will have to give it all back.
From BBC News:
http://www.bloomberg.com/apps/news?pid=10000080&sid=avd1QPYq5Skw&refer=asia
For such a sophisticated country, they sure like stepping into the same shit over and over.
Ah, and that UBS debacle mentioned at the end -- I was at UBS when that happened. The trader who made the mistake stepped out and has never been seen since.
Seppuku, anyone?
To the extent of 2.8 B$ (initial). I heard someplace Morgan Stanley made 220M off of that mistake. But the word is they will have to give it all back.
From BBC News:
Shares in J-Com fell to below their issue price after the broker at Mizuho Securities tried to sell 610,000 shares at 1 yen (0.47 pence; 0.8 cents) each.
They had meant to sell one share for 610,000 yen (£2,893; $5,065).
http://www.bloomberg.com/apps/news?pid=10000080&sid=avd1QPYq5Skw&refer=asia
For such a sophisticated country, they sure like stepping into the same shit over and over.
Ah, and that UBS debacle mentioned at the end -- I was at UBS when that happened. The trader who made the mistake stepped out and has never been seen since.
Seppuku, anyone?