Sold on open today. Originally invested on the thesis that listing would release full value of the company, underlying valuation remains correct (notwithstanding the advisory fees) but misjudged the fact my supposed catalyst for re-rating is going actually to be at the expense of Aussie holders. Company clearly doing everything it can to make the business look plump for UK investors, will likely rocket on listing over there I'd guess.
Not interested in following this company overseas so gets the chop. I think its wishful thinking to hold here in the hope of a high buy-back price given the decision to not issue a dividend.
TSM Price at posting:
39.0¢ Sentiment: Sell Disclosure: Not Held
