sharetrader
Page 2 of 688 FirstFirst 1234561252102502 ... LastLast
Results 21 to 40 of 13746
  1. #21
    Member
    Join Date
    May 2009
    Location
    Auckland
    Posts
    133

    Default

    It is going south ... Seems PGC is holding up better than HNZ right now...

  2. #22
    Member
    Join Date
    Mar 2011
    Posts
    73

    Default

    Quote Originally Posted by belgarion View Post
    http://www.nzx.com/markets/NZSX/HNZ/...apital-Raising

    Wayhey! Nice outcome for small investors.

    Some fun and games to be had before the SPP tho [evil grin]
    Belgarion, when you say nice outcome for small investors - is your rationale that small investors if they don't buy into the SPP won't have their holding diluted ?

  3. #23
    Senior Member kizame's Avatar
    Join Date
    Feb 2007
    Location
    Tauranga, , New Zealand.
    Posts
    719

    Default

    If there are shares issued,and you don't take part,then your holding will be diluted.

    I think Belgarion is refering to the discount to net asset backing of the SPP,but I'm sure he will elaborate.
    Last edited by kizame; 20-07-2011 at 09:29 AM.

  4. #24
    Share Collector
    Join Date
    Mar 2005
    Location
    Porirua
    Posts
    3,866

    Default

    Small investors can buy a few now and take part in the spp at a price which will either be better than (possibly much better than) or the same as other institutional investors.

    They can also wait until after the results are out to make a decision on making an investment of up to $15,000 - these results are going to be fairly critical in giving some insight as to how HNZ might perform in the future, so that is a considerable amount of de-risking around their purchase.

    However, the only thing not clear to me is what the cut-off date for owning shares in the spp is. The details are due to be announced by tomorrow - given the spp is going to open on 8 August, it is possible there may not be much time/too late to get on?

    (bought a few anyway at 62cps - am assuming there is a reasonable chance of getting access to the spp still)
    Last edited by Lizard; 20-07-2011 at 10:19 AM.

  5. #25
    Legend Balance's Avatar
    Join Date
    Feb 2003
    Posts
    12,890

    Default

    There will be a few fund management institutions with their noses out of joint? Underwriting to be done without them being involved and they have been doing their usual selling down in anticipation that they will get reset via the underwriting.

  6. #26
    Guru Xerof's Avatar
    Join Date
    Mar 2005
    Posts
    3,034

    Default

    Underwritten by Impact Capital Management - formed July 1 2011, 100 shares, 100% owned by Impact Capital, 100 shares, owned by Greg Tomlinson, involving Richard Oliver

    Seems like GK is having to call in favours from old Macquarie mates to get these deals away............

  7. #27
    Advanced Member
    Join Date
    Dec 2009
    Location
    Eastern BoP..
    Posts
    1,801

    Default

    Hmmmm... Liz could be right... Holding but not salivating.... Yet !!!..

  8. #28
    Share Collector
    Join Date
    Mar 2005
    Location
    Porirua
    Posts
    3,866

    Default

    Just nosing around at the companies office and noticed there are approved name reservations there for Heartland Insurance Ltd, Heartland Kiwisaver Ltd, Heartland Trustee NZ Ltd, Heartland Building Society Ltd, Heartland Wealth Management Ltd.... at that rate, I half expected to come across a "Heartland Property Management Ltd" (No, there wasn't)

    Not sure if they are just covering off the bases or an indication of strategic direction?

  9. #29
    percy
    Join Date
    Oct 2009
    Location
    christchurch
    Posts
    14,429

    Default

    Quote Originally Posted by Lizard View Post
    Just nosing around at the companies office and noticed there are approved name reservations there for Heartland Insurance Ltd, Heartland Kiwisaver Ltd, Heartland Trustee NZ Ltd, Heartland Building Society Ltd, Heartland Wealth Management Ltd.... at that rate, I half expected to come across a "Heartland Property Management Ltd" (No, there wasn't)

    Not sure if they are just covering off the bases or an indication of strategic direction?
    Would think they are just covering bases,making sure no one else uses their name.Marac had insurance,so expect that is now Heartland Insurance.Trustee they would need,kiwisaver I don't know,building soc would be to cover the building socirties that joined Marac to form Heartland.
    "Property management" may still be, and most probably remain a swear word for some time as that was Marac's down fall. Maybe in a year or two.!!!!

  10. #30
    Legend
    Join Date
    Jun 2004
    Location
    , , New Zealand.
    Posts
    7,115

    Default

    Quote Originally Posted by winner69 View Post
    Bit of a worry when that head finance man says 'Heartland aims to encourage depositors by becoming a bank, reasoning that people are more relaxed about putting money in a bank than with a finance company' So is becoming a bank just one big (and expensive) marketing ploy
    Not a holder Winner69, but I am becoming very uneasy about Heartland. What do you think of this observation?

    I am presently visiting the Kapiti Coast and have read today's edition of the Dominion and the local rag the Kapiti Observer, both dated Wednesday 20th July.

    On page B7 of the Dominion is an ad for PGG Wrightson Finance, an organization which seems inevitably destined to become part of Heartland. They are advertising a 12 month secured term deposit offering 7.5% per annum. This is despite the small print in the ad that notes any such investment will become a deposit with Heartland that will consequently be unsecured in a couple of months time (no mention of that last clause in the ad of course).

    Then on p13 of the Kapiti Observer, a real 'heartland' publication (sic), Heartland are offering a 12 month term deposit rate of 6.25% per annum. This seems to be quite a big gap for what is ostensibly the same investment, even allowing for the fact the 'small print' shows that the PGG Wrightson Finance 7.5% rate is for investments of $100,000 plus.

    The headline on the Heartland ad states 'We invest in Wellington'. Immediately I am thinking, no you don't! You are primarily the old Southern Cross and CBS Canterbury Building Societies, investing in the heart of the South Island. Oh and you are also Marac investing in the manufacturing heart of Wellington (yeah right, let me know if you can't count any manufacturer's left in Wellington on one hand!)

    I can't help the impression that Heartland is really old rope painted and tarted up as a new frilly bow knot. The marketing budget is being spent to allow the paying of lower interest rates to depositors than a BBB- credit rated organization might otherwise offer. Pull the wrong string and the whole lot might unravel. I really, really hope that I am wrong.

    I would like to see Heartland succeed. I think NZ inc. needs it! But is a 'Salt of the Earth' name and a hyped marketing budget really the key to the path of success?

    SNOOPY

    discl: Hold PGW, who are in the process of divesting PGG Wrightson Finance.
    Last edited by Snoopy; 20-07-2011 at 10:32 PM.
    Industry shorthand sees BNZ employees still called 'bankers' but ANZ employees now called 'anchors'. Westpac has opted out of banking industry shorthand...

  11. #31
    Advanced Member
    Join Date
    Dec 2009
    Location
    Eastern BoP..
    Posts
    1,801

    Default

    So much to learn.. So little time..

    Oy vhey !!..

    Thank you all for your input..

  12. #32
    One Fearsome Feline winner69's Avatar
    Join Date
    Jun 2001
    Location
    , , .
    Posts
    27,362

    Default

    Snoopy - you probably also heard the ads on the radio as well --- all day long -- and playing the 'we invest in Wellington' card as well ... actually stressing that as well

    The marketing machine ramping up .... haven't seen on TV yet ... an old wise guy once told me he never invested with any finance company that had to to resort to TV .... and cited all those that had been on TV and then gone bust

    And yes I do find that statement from the head finance honcho a bit strange and a bit of worry

  13. #33
    percy
    Join Date
    Oct 2009
    Location
    christchurch
    Posts
    14,429

    Default

    Every second car yard in NZ most probably uses Marac to finance their car,truck sales.If you look at any Marac/Heartland you will see their lending is spread through out NZ.Largest is offcourse Auckland area.
    Most banks have at one time or other advertised on TV.Heartland is a "new" brand, so expect a lot of advertising.
    Deposit rates vary with any organisation.Heartland is no different. They will just be trying to keep their book in order.
    What is interesting is Lizard's earlier posts as to how Heartland deposits are stacking up for when government guarantee expires.Maybe all will be OK,but looks as though banking licence is going to be a must to get them through.
    I will not be ading to my holding until I have seen result,although they have achieved everything they said they would do,and on time.!!!
    Last edited by percy; 21-07-2011 at 06:53 AM.

  14. #34
    Legend Balance's Avatar
    Join Date
    Feb 2003
    Posts
    12,890

    Default

    http://www.stuff.co.nz/business/5317...and-share-plan

    A bit more infor on Greg Tomlinson, the underwriter to Heartland's capital raising.

    He is certainly going to do a lot better than George Kerr in terms of his entry price.

    As one star brightens, the other dims.

  15. #35
    Share Collector
    Join Date
    Mar 2005
    Location
    Porirua
    Posts
    3,866

    Default

    Re Snoopy's comments, I checked the BSH merger presentation and that gave the combined geographical breakdown, with 7% of receivables and 8% of deposits coming from Wellington.

    The rate on offer seems quite high at 7.5% - considerably higher than the 6.75% for a similar deposit on their web-site (annual interest payment). But the timeline for becoming non-guaranteed should be the same whether the deposit remains with PWF or moves to Heartland (i.e. all lose the guarantee at 31 Dec when it expires).

    I have been following the Heartland interest rates, expecting them to move up to attract sufficient investors to remain with them. However, there have been only very subtle moves of around 0.25% increase in 9-18 month rates to attract investors beyond the end of the guarantee period. They have probably been fortunate in that bank rates have been falling and gifting them a wider spread over bank rates (which are generally below the recent CPI rate for now). The most recent moves at Heartland have been a reduction in the short term interest rates, further pushing investors towards "beyond the guarantee". Also of interest is that the MAR010 (2 yrs till maturity) are trading at around 8%, which suggests the market is reasonably comfortable with Heartland - it's a similar rate to the GFN030 (Guinness Peat) or the IFT150 (Infratil), although those both run until 2015.

    While I think it is right to be cautious over their advertising, the crucial difference over GFC advertisers is that it seems many of them were seeking deposits to paper over impairments or capitalisation of interest. In Heartland's case, they have the challenge of re-building investor confidence heading beyond a period where investors can see their deposits as safely backed by the government.

    The recent announcement of a June renewal rate of 82% intrigued me, as I wondered how it was achieved, but perhaps advertising is involved. Certainly they will need to stabilise deposits before they can start to go forward, so this is a critical phase for them. PWF actually appears to bring a less risk-averse depositor base, though possibly along with more scope for future impairments. If they are racking up the interest rates at PWF now rather than tarnish the Heartland rates to attract deposits, then that is an interesting marketing move too. Will have to see if I can find that ad...

  16. #36
    percy
    Join Date
    Oct 2009
    Location
    christchurch
    Posts
    14,429

    Default

    Quote Originally Posted by Lizard View Post
    Small investors can buy a few now and take part in the spp at a price which will either be better than (possibly much better than) or the same as other institutional investors.

    They can also wait until after the results are out to make a decision on making an investment of up to $15,000 - these results are going to be fairly critical in giving some insight as to how HNZ might perform in the future, so that is a considerable amount of de-risking around their purchase.

    However, the only thing not clear to me is what the cut-off date for owning shares in the spp is. The details are due to be announced by tomorrow - given the spp is going to open on 8 August, it is possible there may not be much time/too late to get on?

    (bought a few anyway at 62cps - am assuming there is a reasonable chance of getting access to the spp still)
    Record date is 1st August.5pm.

  17. #37
    Member
    Join Date
    Oct 2009
    Posts
    102

    Default

    The SPP discount is going to be "at least 3%" or around 2cps to the average price in late August - not exactly the most attractive SPP IMO.

  18. #38
    Legend Balance's Avatar
    Join Date
    Feb 2003
    Posts
    12,890

    Default

    Quote Originally Posted by Catalyst View Post
    The SPP discount is going to be "at least 3%" or around 2cps to the average price in late August - not exactly the most attractive SPP IMO.
    It is not intended to be an attractive SPP. Some parties seem to want the capital raising to fali so they can end up with all the shares at 65 cents?

  19. #39
    Share Collector
    Join Date
    Mar 2005
    Location
    Porirua
    Posts
    3,866

    Default

    Quote Originally Posted by Balance View Post
    It is not intended to be an attractive SPP. Some parties seem to want the capital raising to fali so they can end up with all the shares at 65 cents?
    So in that case, we can presume they will also want the VWAP to be at about 67cps during the price-set period to avoid giving anything extra away to retail investors? If that's the case, it might also be better to just buy on market now at 63cps, instead of gambling on the spp price being lower than 65cps. Although achieving 67cps VWAP might not be simple with the set period occurring post-result.

    I'm still not clear what day the result is actually released, but presumably prior to open of trading on 19 August. Also note this is one of those spp's where investors won't be sure what price they're getting until after the spp closes, so will probably want to hold off committing funds until the last few days of the offer.

  20. #40
    Member
    Join Date
    Sep 2010
    Posts
    54

    Default

    As shakespeare once said... "To buy or not to buy: that is the question". :-)

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •