The issue price for shares issued under the SPP is the lesser of $4.76 and a 2.5% discount of the VWAP over the period from today until next Thursday. If the VWAP was equal to today’s closing price of $4.77, the issue price would be $4.65. So for anyone participating, the lower the share price through to next Thursday the better (assuming of course it’s only a temporary aberration of course).
Is it going to be manipulated? Seems unusually strong today compared with the rest of the market
I would love to participate, but I need to sell something to create money and if we were different times I would, but if this is a w shaped recovery I am not thinking it is worth it.
I've held IFT since the IPO, one of my most successful investments and now one of the biggest. With the RBNZ flirting with negative interest rates I reckon a few more won't go astray so will be up for the SPP. I don't expect everyone to see it that way, but personally, I don't see much better value elsewhere.
It is a good buy long term Noy using the money to prop up firm but for new investment .
Agreed (esp the last bit). SPP or buy on market? Marginal so you have to believe in the product to be considering it.
If you can stomach the much-discussed mgmt fees and the odd duffer investment (German airports) they offer a decent alternative to managed funds by poking their noses into the management of their holdings and generally sticking to areas they know and have some sort of potential from synergies or natural growth.
SPP is at a 2.5% discount to market price over the next few days, no brokerage, and the money ends up with the company. No brainer for me, I've stuck some money in (about 50% of my total holdings so I expect to be scaled back).
Originally Posted by Southern Lad
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