While I haven't done it, I believe you can shunt shareholding between the nz and oz registers. You will still need to pay AUD for the shares but after shunting them could sell in the NZX with NZD settlement.
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FWIW my broker is reccoing not taking up the offer, outlook and margins for the big banks coming under pressure.
Hi Josh, I am reminded of a quote from Jesse livermore "if you buy on Smith,s tip, then you should sell on Smith,s tip.
My Mr Smith has buy tip on WBC . But thanks for your tip.😊
Further thoughts: Colin Twiggs estimates that the major Australian banks are over on average over valued by 16.5%. Taking Friday's closing SP of Au $26.63 minus 16.5% =Au $ 26.19. That indicates that the SPP price of Au$ 25.32 is at $0.87 discount to fair value.
Not sure of your maths there, airedale. 16.5% of $26.63 equals $22.23.
You are correct mac. I must change the battery in my slide rule.
https://www.smh.com.au/business/comp...20-p53c8o.html
Share price rapidly heading closer to $25.32 AUD. At least people don't have to fret if they miss out on their allocation from the share purchase plan - might end up cheaper buying off market.
This happened with the ANZ capital raise a few years back. I missed on my allocation of shares because I wrote a NZ cheque for what I thought was NZ shares. I think the price on offer was round $29? Can't recall. Next minute, the share price was down to $24. Being a bit slow definitely has its advantages. Sometimes the best course of action is to stand still and do nothing.
I use to feel envious about the smart money getting first dibs on this sort of stuff but not anymore.