I heard from a Forbar broker that they were scaled back by over 50% for their clients but same clients (mutual with Craigs) got 100% of what they wanted from Craigs.
What does this tell us?
I think it's called hogging the IPO?
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Ive missed out totally in the past or got small amounts with other organizing brokers. Craigs have given me 100% for me, and also100% for my family estate account. so looks like im on a winning end this time round.
There are several "layers" of Arrangers, Bookrunners, Joint Lead Managers, Retail Affiliates, NZ Retail Co-Managers etc involved in this float - all with varying claims to the pie. Throw in the myriad individual broker/client relationships and their "values" and it's no wonder that experiences vary considerably.
For the record, I was scaled 50% - happy to sit on that and see how it goes!
Asb have scaled my application to $10000. I applied for $30000
When are they due to be listed?
Me neither. Was looking forward to owning Z longterm, filed "interest" early, shook cash loose from elsewhere to enable it, but brokers have not even sent me a prospectus or application form yet. So reluctantly concluding i'm sitting with Sam Goldwyn (of "Include me out!" fame).
I'll just have to be happy holding some of their bonds, & watching for some future market slump for a chance to swap some for equity, maybe.
Already started putting my hardearned into easily dumpable high yielders, with hopes of better luck in the Meridian sweepstakes.
In Parliament this afternoon govt said they hope to get MEL done within the month from today.
change your broker, thats not good enough
At the risk of being reported to the FMA for trashing, who is your current broker?