by Ganesh Sahathevan
Mark Speakman
The Top Group IPO was a classic pump and dump, and it was based on the license to award law degrees granted by NSW Attorney General Meak Speakman and his NSW Legal Profession Admission Board. Much has transpired to complicate matters since the IPO and the collapse in share price and market capitalisation, but the Speakman remains silent.
In Hong Kong and other Asian markets there will be questions raised and an investigation intot he pump and dump and political funding, but in Australia there has been nothing of that sort. Of course, Speakman is also the minister in charge of the state corruption agency, and is part of the panel that determines who heads it.
TO BE READ WITH
Sunday, September 15, 2019
Top Group IPO a classic case of license trading: Post IPO spike & collapse in market cap raises obvious questions about any political party beneficiaries ,but Peter Hall & ICAC not interested
by Ganesh Sahathevan
The graph above shows the movements in Zhu Minshen's Top Group's share price since its IPO and listing on the Hong Kong Stock Exchange.
It is easy to see that there was an initial spike after which share price and market capitalisation collapsed.
Anyone familiar with Asian markets will see that the Top Group listing and movement in share price follows the well trodden path of companies that list as soon as hard to get approvals are obtained and then sold via an IPO. In the case of Top Group the relevant approval was the "first and only" license to grant Australian law degrees granted a private company, granted by the NSW Legal Profession Admission Board,after consultation with the Law Council Australia.
It has already been shown on this blog that the granting of that license coincided with donations from Top and Zhu to the NSW Liberal Party. Consequently a inquiry into who the beneficiaries of the IPO were seems a logical step for an inquiry into political donations in NSW, but not it seems for Peter Hall QC and ICAC.
See
Peter Hall QC and ICAC have been provided information about Top Group by Dr Amen Lee, but ICAC will still not call Zhu Minshen
AND
TOP Education Institute's Bachelor of Laws : Political donations,HK Stock Exchange IPO seem to have left regulators confounded, speechless
The graph above shows the movements in Zhu Minshen's Top Group's share price since its IPO and listing on the Hong Kong Stock Exchange.
It is easy to see that there was an initial spike after which share price and market capitalisation collapsed.
Anyone familiar with Asian markets will see that the Top Group listing and movement in share price follows the well trodden path of companies that list as soon as hard to get approvals are obtained and then sold via an IPO. In the case of Top Group the relevant approval was the "first and only" license to grant Australian law degrees granted a private company, granted by the NSW Legal Profession Admission Board,after consultation with the Law Council Australia.
It has already been shown on this blog that the granting of that license coincided with donations from Top and Zhu to the NSW Liberal Party. Consequently a inquiry into who the beneficiaries of the IPO were seems a logical step for an inquiry into political donations in NSW, but not it seems for Peter Hall QC and ICAC.
See
Peter Hall QC and ICAC have been provided information about Top Group by Dr Amen Lee, but ICAC will still not call Zhu Minshen
AND
TOP Education Institute's Bachelor of Laws : Political donations,HK Stock Exchange IPO seem to have left regulators confounded, speechless
END
