06:41:01 EDT Thu 28 Mar 2024
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Shell Summary for Oct. 9, 2014

2014-10-09 20:58 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange continued its descent, falling 11.85 points to 836.82 Thursday. It has been a slow year for new capital pool shell listings. So far, just 15 capital pool shell's have listed, compared with 31 by this time last year. There are fewer shell packagers these days, but most of those who remain are experienced, and usually sell their shells well. As a result, they are able to still attract interest from speculative investors. Laurence Ho, for example, has returned to the capital pool shell sector with a new listing, Maple Peak Investments Inc. (MAP), which arrived on the TSX-V last week. Maple Peak last traded at 62 cents, a remarkable return for an IPO shareholder who recently paid 10 cents. Mr. Ho, the eldest son of Hong Kong billionaire Stanley Ho, also has one other capital pool shell, Alpha Peak Leisure Inc. (AAP), which fetched up to $1.40 earlier this year before the shell requested a halt so it could arrange a takeover of a Chinese tourism destination (Alpha Peak remains halted as it works on the deal).

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