IFT - Infratil

[Bjauck]

...Tied up 50k for weeks just for a few shares, pointless. Maybe that was their plan to skim off all the interest

I much prefer a rights issue

[lissica]

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.

[Southern Lad]

Tied up 50k for weeks just for a few shares, pointless. Maybe that was their plan to skim off all the interest

In todays interest rate world, excess applications of $81m at 1% pa (if you were lucky for on call money) retained for a week would come to $15,577. This amount is petty cash compared to legal, share registry and NZX fees of undertaking the SPP.

[sb9]

Looks like SPP refunded money is finding its way back into buying on market

[Waiuta]

I applied for 765 and got the lot. Maybe because I'm an existing shareholder ~ 8000 and have some IFT290 bonds.
Lucky I guess.

[turnip]

I applied for 765 and got the lot. Maybe because I'm an existing shareholder ~ 8000 and have some IFT290 bonds.

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.

[tango]

I applied for 765 and got the lot. Maybe because I'm an existing shareholder ~ 8000 and have some IFT290 bonds.
Lucky I guess.

congrats on getting in with 8000 shares. I bought them as a "maybe" and only have around half of that. I would have loved to have bought more when they were cheap. That's investing for you

[tango]

I much prefer a rights issue

Ditto! With an option to apply for extra if the issue is undersubscribed. Much more straight forward

[tango]

If it makes people feel any better, I applied for $30k, but only got $423 (91 shares)

i.e. 1.4% of application, and like other people, 11.4% of my holding. (801 shares)

.

I got 14.5% of my original shareholding. Maybe the scaling changes once you have more than 1000 shares (which I do). I have no idea...

[Waiuta]

My holding cost on these is now ~$3.40 having bought in Nov 2016 and again in Dec 2018. Despite me moaning about the excessive management fees Morrison & Co charge I'm showing a total return of ~25%. So mustn't grumble.

congrats on getting in with 8000 shares. I bought them as a "maybe" and only have around half of that. I would have loved to have bought more when they were cheap. That's investing for you