Author Topic: Fairfax India new issue  (Read 127997 times)

rohitc99

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Re: Fairfax India new issue
« Reply #270 on: January 18, 2019, 10:20:58 AM »
i tried to put in an order in fidelity and it was blocked with a 144A restriction. as per fidelity, the stock has been placed on a restricted list for retail in the US as the company did not register its public issue from 2017. does anyone have any information on it ?

the fidelity rep checked on bloomberg terminal and confirmed that this is not a fidelity issue
« Last Edit: January 18, 2019, 10:22:58 AM by rohitc99 »


DocSnowball

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Re: Fairfax India new issue
« Reply #271 on: January 19, 2019, 04:17:47 PM »
i tried to put in an order in fidelity and it was blocked with a 144A restriction. as per fidelity, the stock has been placed on a restricted list for retail in the US as the company did not register its public issue from 2017. does anyone have any information on it ?

the fidelity rep checked on bloomberg terminal and confirmed that this is not a fidelity issue

I have bought FFXDF from JPM Chase Investment account in Dec 2018 without any issues.

eclecticvalue

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Re: Fairfax India new issue
« Reply #272 on: January 19, 2019, 10:37:03 PM »
Rohitc99- This is the same problem I have been experiencing. Supposedly Fairfax India needs to file statements with a U.S. authority in order to be current.

rohitc99

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Re: Fairfax India new issue
« Reply #273 on: January 20, 2019, 10:27:06 AM »
docsnowball - i did that a few months ago too and it worked then. Per fidelity, there was no hold then and was done recently. you can sell your stock now, but not buy

eclecticvalue - how do we get this fixed. is there anyone in the company we write to ? this seems to be an issue from 2017. seems to be very sloppy and careless on their part to miss something so basic

eclecticvalue

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Re: Fairfax India new issue
« Reply #274 on: January 20, 2019, 11:39:32 AM »
I would think the Exec team or Prem.

obtuse_investor

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Re: Fairfax India new issue
« Reply #275 on: January 21, 2019, 03:43:04 AM »
FIH is only listed in Canada. Why would the management have to report to SEC?

This is a genuine question. I donít know what form the US listed entity is. Itís not an ADR. Itís a Wall Street manufactured trading instrument of some type.
Value Investor who manages his personal portfolio with a 25-45 year time horizon | @obtuse_investor

gfp

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Re: Fairfax India new issue
« Reply #276 on: January 21, 2019, 05:24:47 AM »
Might be easier to get your fidelity account approved to purchase the Toronto shares directly vs. waiting for something to be 'fixed' on an unsponsored adr.

rohitc99

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Re: Fairfax India new issue
« Reply #277 on: January 21, 2019, 07:31:29 AM »
FIH is only listed in Canada. Why would the management have to report to SEC?

This is a genuine question. I donít know what form the US listed entity is. Itís not an ADR. Itís a Wall Street manufactured trading instrument of some type.

It trades as FFXDF on the OTCmarkets. is this not a US traded instrument. sorry, i am not clear about it, but i thought its traded in the US and hence needs to registered with the SEC

rohitc99

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Re: Fairfax India new issue
« Reply #278 on: January 21, 2019, 07:42:03 AM »
Might be easier to get your fidelity account approved to purchase the Toronto shares directly vs. waiting for something to be 'fixed' on an unsponsored adr.

I have access to purchase toronto shares and tried that. It gives the same message : 144A restriction

petec

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Re: Fairfax India new issue
« Reply #279 on: February 11, 2019, 10:35:40 PM »
IIFL down 60% over 6 months to below 10x forward earnings. Anyone following it? I know there were liquidity concerns last year but I thought theyíd passed.