BANCO ESPIRTO SANTO E (BKESF)

[janice shell]

Nah, I use a first name.

[Penny Stocks 2.0]

Start the Letter off "Dear Sir" they like that.

[janice shell]

The ticker didn't show up in the first story; only the name, in which it was explained that it was the "bad bank" to Banco Novo's "good bank".

[schap]

Why did it show up in the tickers news?

[schap]

I guess we will find out but this is def getting alot of attention thats for sure.

[janice shell]

I take it you don't care that BKESF is the wrong company?

Damn, maybe I'll write to FINRA. It's kind of like RIVT.

[mrfence]

There's something weird with the trading coz the average buy/sell with 170 trades is about $100.00 worth.

[Penny Stocks 2.0]

Tomorrow gonna be incredible. 1000%+

[janice shell]

Which trades as BKES end of story. Bank of Portugal Receives Four Bids for Novo Banco

It does not. Novo Banco SA is private. It doesn't trade at all.

[jet101]

NOVO BANCO web-site
https://translate.google.com/translate?hl=en&sl=pt&u=https://www.novobanco.pt/&prev=search

[Penny Stocks 2.0]

Float is under 100m then. Tomorrow we destroy ask.

[janice shell]

there isn't even any mention of the ticker in the pr.

I assume that's because Banco Novo SA is a private company.

[janice shell]

Portugal's central bank said Thursday that it received four bids for Novo Banco SA, the good bank created out of the collapse of Banco Espírito Santo SA.

So why the interest in old Banco Espirito Santo stock? It's the "bad bank". Novo Banco is a new and different entity.

[jet101]

Here's the article for those who have not read it. Take from it what you will

http://www.wsj.com/articles/bank-of-portugal-receives-four-bids-for-novo-banco-1467313606

[pennypauly]

Institutions that own BKESF

251 million shares are owned by institutions

Mutual Funds that own BKESF

145 million shares owned by mutual funds



http://quotes.wsj.com/BKESF/company-people at the bottom of WSJ link

[schap]

I like how it traded today and how thin it was. I guess we will see how she does tomorrow

[Sobek]

Look, I've done my DD and yes what you are saying is true except that BKESF is a dead ticker.

Novo's decision is already being challenged and just one of the many senior creditors challenging Novo's decision to move the debt to BES is Goldman Sachs and this is as of 2016.

Novo just last Dec moved almost $2BN back to BES under Portuguese law but EU laws were alleged to of been violated in the transaction and the note holders are challenging this abrupt decision in London now.

This isn't just another "hijacked" pink sheet.

[jet101]

Sorry I just googled it then hit the translate option on Goolge.

[jet101]

[Churak]

thnx...no speaky espanol...Anglais por favor...

[jet101]

This is Novo site from what I could find.

http://www.novobanco.pt/site/

[Penny Stocks 2.0]

I guess INTLL didn't get the memo then right. Lol

[Churak]

Novo Banco doesn't own the toxic assets; the Resolution Fund is the shareholder of the bank with the toxic assets ie Banco Espirito . The Bank was reorganized in 2014 and split into 2 banks per my previous posts with links. Neither of the two banks are publicly owned but rather are owned by the Resolution Fund. The situation in Spain was/is different than the US bailout.

[Sobek]

The toxic assets that the bank owns still has to be accounted for. FNMA and FMCC tried the same BS and the Gov took them over to make sure it did not happen. If that was the way business was done, anyone could start up a business then sell the good and make the bad just disappear with no accountability??? No. It doesn't work that way, sorry but its a package deal. That's why this sale is taking so long.

[Penny Stocks 2.0]

I don't know, but it trades much cleaner than that. I believe float is 100m

[Churak]

A sale of Portugal’s Novo Banco SA to international institutional investors should remain an option for the bank that emerged from the breakup of Banco Espirito Santo SA, Chief Executive Officer Eduardo Stock da Cunha said.


http://www.bloomberg.com/news/articles/2016-07-05/novo-banco-ceo-says-sale-to-large-investors-should-be-explored

The Bank of Portugal is making another effort to sell the surviving business carved out of Espirito Santo after last year’s attempt failed due to bids being too low


BKESF is NOT what is being sold

[Churak]

Only Novo Banco is being sold. That is what the PR says

[Churak]

Its all there and still alive

Perhaps, and if so, it is owned 100% by the Resolution Fund the same shareholder that owns 100% of Novo Banco. BKESF is a zombie ticker that got hijacked by these pumper clowns who are trying to convince you there is value here. IMHO, once the SEC gets wind of this, they will suspend it like they did RIVT,EGLP and every other zombie ticker that was used to suck in the lazy & gullible sheeple.

[Sobek]

The bank was split into a healthy bank, Novo Banco (privately held) and the toxic assets remained in the existing bank BES (BANCO ESPIRITO SANTO.)

BES is the publicly traded company that is 50% of the entire bank being sold. That is why up until last week, they have had such a difficult time selling it.

If they were just selling the "good bank" this thing would of been sold well over a year ago but it all has to be sold, toxic assets and all.

It's also why when they tried to IPO JUST Novo Bank it was shot down and they were laughed out of the regulation department.

BES was bailed out just like the big American banks were. A bank of this size does not just disappear nor do the toxic assets. If they want to sell the bank its a package deal, period.

Believe it or not, it all has a value and someone sees it and made an offer.

Just like when American NPL's were considered to be worthless toxic assets after they ripped off hundreds of billions of dollars from Americans, the banks still had to sit on them and include them in their balance sheets. Now they wrap them up and sell them to companies like BX or RESI who turn them into profitable rental properties or resell them for profit as the market is recuperating.

There's value in debt believe it or not.

[catchmeifyoucan]

What's the O/S today? ETrade shows 5.6 Billion O/S... I guess Citigroup's acquisition of 3+ million shares representing app 2% of the O/S was before the O/S reaching 5.6 billion??

[Sobek]

So where did the debt go? Did it just evaporate and disappear? Didn't the American banks try this and heads rolled left and right? Just because they split the bank doesn't mean the toxic assets get a free pass. Its all there and still alive and well just like the bail outs the US did. And it all still has a value and apparently someone sees it and made a bid.

[jet101]

Has anyone looked at BKESY (Banco Espirto Santo)? Are you sure your buying the correct one?

[Penny Stocks 2.0]

INTLL $25 Nasdaq Top Bidder >>> https://en.m.wikipedia.org/wiki/INTL_FCStone

[Penny Stocks 2.0]

INTL Huge Institutional Buyer!!! https://www.intlfcstone.com/Main-Channels/Securities/Capabilities/Securities/Institutional-Sales-and-Trading/

[schap]

Nice little end of day action

[Penny Stocks 2.0]

Solid close, INTL is huge.

[Churak]

And if that isn't good enough, the name of the company associated with the ticker BKESF is

BANCO ESPIRTO SANTO E

The original name of the bank that got split into two was

Banco Espirito Santo

What trades under the ticker BKESF is...nothing...lol...and that nothing is not being sold to anyone. The only thing being sold is Novo Banco which is 100% owned by the Resolution Fund..

[pennypauly]

CDEL moved to .0025

[pennypauly]

Float is locked up!!!!

[Penny Stocks 2.0]

INTL Interesting!!

[pennypauly]

1 mil bid at .0012 very nice

[Churak]

Novo Banco is being sold which has nothing to do with BKESF.

[Penny Stocks 2.0]

Should see Release of deal with in 3 weeks, that's big.

[schap]

EOD spike maybe?

[schap]

That would be nice

[Penny Stocks 2.0]

Huge >> The Central Bank will probably have to say something about the sale process by the end of the month. 

[Penny Stocks 2.0]

Expect Updates soon. I love it!

[Sobek]

Enjoy Cheeky, looks like this deals been going on for some time, grabbed me a lotto position

About a year ago they submitted their application, anyone who follows bank acquisitions and mergers know these things are slow and take time.

The group submitted to its application to regulators earlier this summer, and is awaiting approval to move forward.

http://www.bizjournals.com/southflorida/news/2015/05/11/3-details-on-the-venezuelan-group-buying-espirito.html

http://www.bizjournals.com/southflorida/blog/morning-edition/2015/07/espirito-santo-rebrands-as-brickell-bank.html

[Penny Stocks 2.0]

Bank of Portugal Receives Four Bids for Novo Banco

Source: Dow Jones News

LISBON—Portugal's central bank said Thursday that it received four bids for Novo Banco SA, the good bank created out of the collapse of Banco Espí rito Santo SA.

Novo Banco was put on the block last year, but its sale was shelved in September over price disagreements.

Bank of Portugal said in a statement that it now will decide whether to sell the bank to a bidder or through the market, a task that could prove difficult given investor uncertainty following U.K.'s vote to leave the European Union last week.

The central bank didn't name the bidders.

Write to Patricia Kowsmann at [e-mail]

(END) Dow Jones Newswires

June 30, 2016 15:35 ET (19:35 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.

[schnitz]

LMAO!! Triple 000s