Such is the lot of retail shareholders in NZ. Those institutions will be getting shares at a good discount. The selling pressure in the last few weeks makes sense now.
Printable View
lower div's going forward than this yr's 8c by my calc's
1.22 last spot price
(x) 719.509 existing shares outstanding
= 877.8m pre money market cap
plus the $210m raised
= post money market cap of 1087.8
divide that by the post raise # shares outstanding, which is
719.509 + 210 new shares (raised at a dollar) = 929.5
1087.8/929.5 = 1.1703
Or more simply
(6.85*1.22+1.00)/7.85=1.192
I go with Rawz.
I chose the wrong time to partly rejoin the DRIP! Oz usually chews up Kiwi companies and spits them out. Jeff's skedaddling, not wanting to be in charge should that happen with Heartland?
I wouldn’t be surprised if a version of the “fair dividend rate” for low or non-dividend paying companies will be introduced for NZ company share investments by one party or another. Governments have found all sorts of erratic ways around the crazy absence of a general CGT.