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?
I applied last weekend. ASB haven't confirmed with me yet :(
It's understandable if some ASB clients feel aggrieved that "their" broker hasn't performed very well in this IPO. But ASB aren't part of the arranging, organising or managing groups, so don't have much clout in the operation.
Another IPO and it will be someone else's turn to be unpopular.
:mellow:
agree in part
I don't mind missing out - its what you get with a discount broker. I missed out on Synlait and didn't complain even though I was disappointed.
It's the lack of communication. They said I had to have clear funds in my account. I did. But now they haven't contacted me to say if I am in or out. Do I have to keep the money their or should I have bought more DIL on Wednesday.
ASB replied to my today. I got 80% for what I asked for. I was pretty disappoint with missing out on Synlait too. But I do agree, I just started share trading and ASB is the best I can go with currently.
Yep, 10k here too, asked for 25k
I deal with ASB and Craigs. Got full allocation from Craigs but I was very late in applying to ASB and they said sorry, too late!
Got 70% from Craigs
Yes, I got 10k too. Seems like they are scaling anyone who applied for more than 10k to 10k.
Morningstar have said dont buy so I have decided to go all in :) :
http://www.sharechat.co.nz/article/3...tar-says.html?
Hard to tell as we dont know what the price is. For that reason I only put a little in.
I will be very disappointed if this one drops below IPO price - it doesn't need to go up much as I bought this one for yeild but if they are greedy and price too high, oh well.
I'm loaded up on IFT. It is one of my early stock picks that was actually good, and I added to via the warrants. Have been enjoying their average 19%pa return for many, many years.
Disc: IFT is my second biggest holding after DIL. Have asked for a small helping of Z.
Morningstar lol they always get it wrong i dont know why anyone bothers listening to there advice
Not that I ever read him, ahem, but a friend told me Lee's whine sheet today makes a point of mentioning unbelievable high demand coming from Aussie funds for Z, in love with the yield
Don't trust the data you read on Asb securities. Better to read annual reports. Ift will have the lower yield.
IFT dividend yeild is probably about 3% but its total return (dividend plus share price growth) is about 19%pa since inception - a very good track record.
DIL a great product, I got in a few years ago so have enjoyed great growth, hence its weighting in my portfolio. I thing it still has room to go so haven't taken profits.
Broker at Craigs has just advised $3.50
yip, and they sold down 60% which should be good for index weighting (?).
https://nzx.com/companies/IFT/announcements/239813
Z was deciding on price around 3pm today would have been released but the earthquake seems to have postponed it.
Young man...you have a filthy, filthy mind...Sister Mary Cecile says go and stand in the corner immediately!
http://3.bp.blogspot.com/-UxLaFiJcv0...e_12895823.jpg