IPO of OGDCL oversubscribed

The secondary public offering of Oil and Gas Development Company Ltd (OGDCL) shares has been oversubscribed by 38 per cent, Privatisation Commission statement said on Monday.

According to details, the applications for the secondary offering of OGDCL shares is oversubscribed by 38 per cent as the applications received amounted to Rs3.268 billion while the amount required to be realised through this offering was Rs2.365 billion. The number of applications received are 34,758 comprising 33,715 applications for 500 shares and 1,043 applications for over 500 shares.

Theme Investing: Mega-Trends And Market Psychology

Investing has always been a little like surfing. Successful investors spot key investment themes (waves) and ride them to profits. Sometimes the waves are shorter and smaller than we had expected. Other times the wave takes on a mind of its own and falls under its own weight. The hardest but most profitable thing to do is to be the lone rider of a wave that others have abandoned for the “next best thing”, and then wait for them to catch up. The key is to know when to get on and when to get off. Previous examples of trend investing include defense stocks during the second World War, oil stocks in the ’70s, and of course, the dotcoms.