More retail investors vs instos? (I don’t know that for sure I just remember reading it once)
Or just because it’s a financial and a small bank at that
I suspect a bit of both. Perhaps there is a perception that it is more prone to changes to economic conditions? Plus perhaps smaller trade volumes make it more vulnerable to index components changes and institutional movements?
But @winner you posted on another channel that HGH is in a "long term uptrend", well that's just nonsense isn't it. Why would you say something like that, it isn't and is far from it?
Maybe, just possibly, it's reversed a long term downtrend (buy the DCB), but a pop above 30 DMA (which failed last time) right on EOM rebalancing, is hardly encouraging. It's only just re-entered the long term down-trend channel .. quite a way from break out confirming an up trend.
But @winner you posted on another channel that HGH is in a "long term uptrend", well that's just nonsense isn't it. Why would you say something like that, it isn't and is far from it?
Maybe, just possibly, it's reversed a long term downtrend (buy the DCB), but a pop above 30 DMA (which failed last time) right on EOM rebalancing, is hardly encouraging. It's only just re-entered the long term down-trend channel .. quite a way from break out confirming an up trend.
From the day of listing the HBL/HGH share price is in ‘long term uptrend’ as the chart shows
With an eye to the future and with volatility at 30% odd the chart is looking quite promising
Last edited by winner69; 30-03-2024 at 07:49 AM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Lifetime Home Masterclass
New Zealand’s first debt-free home equity release income solution, Lifetime Home allows Kiwi retirees aged 70 and above to access the wealth tied up in their home to bolster their retirement income. Lifetime Home requires no mortgage, no debt, and no interest payments. Instead, it offers certainty and financial peace of mind when it’s needed most. Master Class for Financial and Mortgage Advisers
Join Lifetime’s founder and managing director, Ralph Stewart and Chief Marketing Officer, Chelsea Devlin to find out www.mortgagerates.co.nz
From Sharetrader AM update
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Heartland announces indicative regulatory approval of Challenger Bank
acquisition, and NZ$210m equity raise
Heartland Group Holdings Limited (Heartland) (NZX/ASX: HGH) is pleased to
announce that it has received indicative regulatory approvals from the
Australian Prudential Regulation Authority (APRA) and the Reserve Bank of New
Zealand (RBNZ) for Heartland Bank Limited's acquisition of Challenger Bank
Limited from Challenger Limited (ASX: CGF).
Heartland also announces a NZ$210 million equity raise, comprising an NZ$105
million underwritten institutional placement (Placement) and a NZ$105 million
underwritten 1 for 6.85 accelerated non-renounceable entitlement offer
(Entitlement Offer).
APRA and RBNZ's final regulatory approvals are conditional on the successful
completion of the Placement and Entitlement Offer.
Included in this announcement is:
1. Offer Announcement
2. Offer Document
3. Investor Presentation
4. NZX Corporate Action Notice
5. Cleansing Notice
Jeff leaving. Probably reading too many of Winners posts saying he lost his magic
Heartland is seeking to raise NZ$210m (Equity Raise) in new equity via a:
• NZ$105m placement to eligible investors (Placement); and
• 1 for 6.85 pro-rata accelerated non-renounceable entitlement offer to raise approximately NZ$105m (Entitlement Offer).
• Use of funds to pay consideration for Challenger Bank, satisfy indicative conditions pertaining to regulatory capital and liquidity and fuel projected growth.
• Approximately 210m new Heartland ordinary shares will be issued under the Equity Raise.
• NZ$1.00 per new share representing:
• 14.6% discount to TERP1 of NZ$1.1703.
• 18.0% discount to last closing price of NZ$1.22 as at 5 April 2024.
• The Australian Dollar Offer Price for eligible retail shareholders has been set at A$0.9151, using the prevailing RBNZ AUD/NZD exchange rate on 5 April 2024.
• The Placement and Entitlement Offer are fully underwritten (with the exception of the pre-committed amount by Heartland’s largest shareholder, Harrogate Trustee Limited)
FY2024 dividend
• Having regard to the equity raise, acquisition of Challenger Bank and associated growth opportunities, the Board expects to target a total dividend payout ratio in the financial year ending 30 June 2024 of 50% of underlying net profit after tax. The Board will, as it has historically, actively manage dividend settings and carefully consider the declaration of any dividend based on Heartland’s capital needs, ROE accretive growth opportunities, balance sheet flexibility and Heartland’s financial performance.
Board and Management updates
• After 15 years at Heartland, Jeff Greenslade has indicated to the Board his intention to step down from his role as CEO of Heartland at the end of this calendar year. Jeff’s tenure at Heartland included seeing through its formation in 2011, and receipt of Heartland Bank’s RBNZ banking registration in 2012. Post-Completion, Jeff’s focus as CEO will be on the strategic transition of Heartland in its role as a listed parent company of banks in two jurisdictions, the integration of Challenger Bank into the group, and the continued development of Heartland’s business in Australia. The Board is confident in the continuation of senior expertise within the Heartland group, and will work closely with Jeff on succession planning through the calendar year to ensure a successful transition.• For further Board and Management updates, please refer to the announcement that accompanies this investor presentation.
Well after the CR is done, I will be back in for long term. This is great for NZ bank to be given this opportunity. To me this shows you how useless Kiwibank is having a shareholder not giving them enough funds to grow.
These accelerated institutional placements really do disadvantage retail shareholders.
They get their $1.00 new shares on 11th April while retail shareholders do not get theirs until 26th April, giving the institutions an advantage of taking profits for 2 weeks as the shares trade ex-entitlement* 9th April.
Originally Posted by Rawz
Reply With Quote
Bookmarks