Party Poker IPO - Poker Affiliate World - Poker Affiliate Programs Discussion and Forums

bigboy · #1 06-12-2005, 08:52 AM

Please excuse my complete ignorance :blink:

I want to take advantage of the PP IPO when it happens, but have never actually invested before. If someone could take the time to give me a brief synopsis of what I need to do (and know), I'd sure appreciate any help!

Is anyone else thinking of investing? Are you concerned with some of the negative publicity the IPO has received? And is it still set to happen at the end of June?

Thanks!

richardb · #2 06-12-2005, 12:51 PM

You need to open up a brokerage account to trade stocks. I would recommend opening an account with Etrade. The stock is going to be on the London Stock Exchange, so if you live in the United States you will not be able to buy this stock online. I believe all brokerages in the United States will not let you buy foreign stocks online. In order to buy this stock, you will have to do it over the phone with etrade or whatever brokerage firm you choose.

In regards to negative publicity, I think it is a good thing. Google was also receiving a huge amount of negative publicity days before it went public. The stock has gone from 100 to 300 since it opened. The best way to keep yourself updated about the IPO is to go to news.google.com and do a search for partygaming.

PPP · #3 06-12-2005, 02:07 PM

Etrade will not let you buy the stock directly, not online and not on the phone either.

CasinoMack · #4 06-12-2005, 02:44 PM

Quote:

Originally posted by PPP@Jun 12 2005, 02:07 PM
Etrade will not let you buy the stock directly, not online and not on the phone either.

Thanks, was going to open an account.

PPP · #5 06-12-2005, 03:16 PM

There is this indirect Pink Sheets thing. I don't get it I'm afraid...
http://www.investopedia.com/ask/answers/201.asp

Egthareal · #6 06-12-2005, 03:32 PM

PPP not sure who you spoke with that said you can't trade on ETrade with this - but, my usual broker on ETrade is telling me it won't be a problem whatsoever.

Additionally, my bank (wells fargo) has a financial division which specializes in stock trades and I spoke with my local finance manager who personally said he could put in the order for PP IPO - but they have a pretty outrageous trade cost about ($200 for every $10k in trades) . IMHO I think it might be worth it to go through wells fargo on this one simply because ETrade could likely take the order but not get it in as fast as this guy could. The commission cost could be outweighed by the benefits of the service as well.

Just some things to think about.

--EG

PPP · #7 06-12-2005, 03:45 PM

Etrade told me that it is illegal for US citizens to directly trade on the London Exchange. They said something about me being only able to do it by buying pink sheets... which may be what your person was talking about, and the extremely high cost is in line with that.

Well, to put it another way. If you have an etrade account, test it out and try to buy and sell a few shares of Sportingbet on Monday, and see what the process is (and if you get slammed by fees).

Egthareal · #8 06-12-2005, 04:12 PM

Good call on the "test" trade I will look into making something like that happen next week and report what was involved in it.

--EG

bigboy · #9 06-12-2005, 04:32 PM

Thanks for info. Let us all know how the test goes Egthareal.

bigboy · #10 06-12-2005, 06:52 PM

Here's a link for more info on the IPO:

party gaming ipo info

An interesting piece of information...

I live in the US. Can I buy shares?
No. The offer will be limited to institutional investors outside of the US, Canada, Japan and Australia.

I wonder if there is a way around this....