iguanalover
12/31/2014 20:23 EST
http://www.joc.com/maritime-news/nicaragua-canal-developer-plans-ipo-raise-project-funding_20141231.html
Hong Kong, New York or London. An interesting twist. The saga continues
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JohnSS
12/31/2014 21:58 EST
Interesting indeed!
This one states he has only raised 200 million to date:
http://www.porttechnology.org/news/hknd_to_launch_ipo_for_nicaragua_project/
This one from the horse's mouth states 2103 Panama Canal income is 2.4 billion & profit 1.2 billion. Even if the Nica canal gets all of that (and it obviously won't) it does not provide much ROI on 50 (probably 100) billion and anything for Nicaragua:
http://www.githy.com/?action=page&id=1575
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KeyWestPirate
12/31/2014 23:38 EST
The numbers have never made any sense. Good luck with an IPO with the total lack of transparency to date. Who's going to underwrite something like that?
This may turn out to the swindle of the century, except, so far, no one has bought in.
And, $200 million? From whom? Shouldn't we see some placement documentation in the financial papers? Unless of course, this is Big Wang's personal money . .
The financing sounds like that Bugsy Siegel movie with Warren Beatty, where he's selling pieces of the Sands Casino to guys standing in the urinal next to him.
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00abuse
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iguanalover
1/1/2015 10:47 EST
Wang is putting about 10 million of his own money into the project each month. He is bankrolling it so far...
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00abuse
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KeyWestPirate
1/1/2015 11:17 EST
This is what Big Wang says. But, there has never been any documentation or accounting of these expenses.
Part of this $10 million might be the salary of DO's opera singer son who is managing the canal effort for Nicaragua. This alone makes the whole effort a joke to me.
I'm sure he's a nice guy, and probably does a great Vesti la giubba , but what kind of message does this send?
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JohnSS
1/1/2015 16:54 EST
DO is staking his & Nicaragua's future on this dream. Legitimate underwriters will need a disclosure of at least some of the details about this guy, his company, and a construction & business plan for the canal.
Is there any beef there? What will be DO's exit plan when this thing folds?
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00abuse
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KeyWestPirate
1/1/2015 20:28 EST
Cuba.
I've been there, and it could be the ultimate retirement destination. Smart, well educated people who really like Gringos, pristine beaches, mountains, farms, ....
Someday .. . . .
Venezuela,,, if the hookers would take payment in Bolivars, and you're inclined in that direction, and gas is cheap too. The excellent chance of getting killed and/or robbed might take some fun out of it.
It was 100 Bolivars to the dollar in September, 150 in December, official rate varies depending on who you know (or that other possibility) netting you as little as 6 if you're not connected.
But, everyone wants dollars so badly there would be no trouble getting top Bolivar for your dollar.
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00abuse
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