Looks like that extra 42m will just have to buy on market as well?
You'd think the share price would be well supported :)
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Looks like that extra 42m will just have to buy on market as well?
You'd think the share price would be well supported :)
It is a wonder in this day and age that we had to front up with the $15,000. They could easily have just direct debited the provided account number on allotment date for the exact amount.
A little naive if anyone thought they'd get 15k on application, and a lot won't now buy on market. I was prepared to put up 15k to get a much lesser amount, (I thought it might have been even less than 4.8k TBH) but will invest the refund elsewhere. I think many others will too. Just the nature of the game with SPP's and IPO's
Im pretty happy with around 5K. I was thinking it might be less.
I needed some more cash to invest in RBD and ATM anyway hehe
Agreed. At $1.61 a 15 cent premium to the issue price those applying for $15,000 worth of shares and receiving 3308 shares were just handed the opportunity to arbitrage a profit of $496.20 before brokerage. I will be holding the extra shares for the foreseeable future.
Meanwhile on the other $10,170.44 based on a call account interest rate at ANZ securities of 1.5% before tax and taking on average two weeks to refund the money the lost interest = (10.170.44 x 1.5% x 14) / 365 = $5.85 before tax.
As you've mentioned it was good that they expanded the pool to 20m shares, if they hadn't I feel shareholders would have had a legitimate grievance considering the original size of the institutional pool was 20m.
I think the above is a fair and quite satisfactory outcome.
Nah...unlike the manna from heaven that the Israelites had to eat fresh every day or it turned to maggots this manna is like good wine, gets better with age and its the gift you give yourself by keeping it and it keeps giving back with the first installment only weeks away :) $500 return for 3 minutes work form filling online...wish my practice ran that way :D