The wheels seem to have come off the IP bandwagon (at least slightly), and anyone who bought shares in Tom Online would make a loss if they sold their shares immediately. The Financial Times connects this to what happened at Vanda, where the share price has fallen substantially since it became the proud owner of Hutchison Global Crossing.
As ever, investors need to beware. Li Ka Shing is mainly interested in how he can make money for himself and his companies, and it isn’t his concern if people choose to buy shares in his companies in response to what he does.
Incidentally, Tom Online was over-subscribed 100 times.
Ordinary Gweilo 
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