I much prefer a rights issue
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Bit disappointed with the amount too.
I got 2992 shares, but luckily only applied at the last minute so didnt tie up 50k for too long. Hoping for a quick refund.
Looks like SPP refunded money is finding its way back into buying on market
I applied for 765 and got the lot. Maybe because I'm an existing shareholder ~ 8000 and have some IFT290 bonds.
Lucky I guess.
I just used the SPP to reinvest my recent dividend, and got all I applied for too.
Only existing shareholders could apply for the SPP. Anyone who applied for just enough to avoid being diluted by the wholesale placement (about 10% of existing holding) would have got their full allocation, only those who applied for extras over and above their pro rata share would have been scaled.
I agree, kiora. IFT is a Morrison and Co vehicle; it wouldn't be there if M and Co hadn't created it; despite "generous" management fees IFT has been an excellent investment since inception and investors go into it with their eyes wide open, or should. No complaints from me!
Latest Telcowatch report, for the second quarter of 2020, Spark continue to lose ground in the NZ mobile market share (-2%) but Vodafone have slowed to .3% growth. Skinny made an 8% increase off a small base (all comparisons made are to the first quarter.) Vodafone still holding poll position with 36.4% market share, over Spark with 36.2%. The trend down for Spark continues (since early 2019) but these are not stellar numbers for Vodafone either - given the money they've thrown at the mobile market. Their reduced marketshare growth throughout the second quarter of 2020 must be of some concern for IFT.
vodaphone , trustpower , wellington airport earnings all under pressure , i expect it will re rate significantly down when the market bubble pops
My 10yo son selected IFT as a place for half of his birthday money yesterday (other half was a huge nerf gun) I do like Sharesies as its got my kids interested in things financial