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13-03-2017, 09:38 AM
#8931
Looks like that extra 42m will just have to buy on market as well?
You'd think the share price would be well supported
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13-03-2017, 09:43 AM
#8932
It is a wonder in this day and age that we had to front up with the $15,000. They could easily have just direct debited the provided account number on allotment date for the exact amount.
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13-03-2017, 09:44 AM
#8933
A little naive if anyone thought they'd get 15k on application, and a lot won't now buy on market. I was prepared to put up 15k to get a much lesser amount, (I thought it might have been even less than 4.8k TBH) but will invest the refund elsewhere. I think many others will too. Just the nature of the game with SPP's and IPO's
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13-03-2017, 10:10 AM
#8934
Originally Posted by trader_jackson
Looks like that extra 42m will just have to buy on market as well?
You'd think the share price would be well supported
I note the share price opened at an all time high, $1.61. Over 10% above the SPP price... luckily they boosted it to 20m and didn't stick with 10m!
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13-03-2017, 10:37 AM
#8935
Im pretty happy with around 5K. I was thinking it might be less.
I needed some more cash to invest in RBD and ATM anyway hehe
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13-03-2017, 10:45 AM
#8936
Originally Posted by trader_jackson
I note the share price opened at an all time high, $1.61. Over 10% above the SPP price... luckily they boosted it to 20m and didn't stick with 10m!
Euphoric times - irrational exuberance - bubble territory
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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13-03-2017, 10:47 AM
#8937
Originally Posted by trader_jackson
I note the share price opened at an all time high, $1.61. Over 10% above the SPP price... luckily they boosted it to 20m and didn't stick with 10m!
Agreed. At $1.61 a 15 cent premium to the issue price those applying for $15,000 worth of shares and receiving 3308 shares were just handed the opportunity to arbitrage a profit of $496.20 before brokerage. I will be holding the extra shares for the foreseeable future.
Meanwhile on the other $10,170.44 based on a call account interest rate at ANZ securities of 1.5% before tax and taking on average two weeks to refund the money the lost interest = (10.170.44 x 1.5% x 14) / 365 = $5.85 before tax.
As you've mentioned it was good that they expanded the pool to 20m shares, if they hadn't I feel shareholders would have had a legitimate grievance considering the original size of the institutional pool was 20m.
I think the above is a fair and quite satisfactory outcome.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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13-03-2017, 10:54 AM
#8938
Originally Posted by Roger
Agreed. At $1.61 a 15 cent premium to the issue price those applying for $15,000 worth of shares and receiving 3308 shares were just handed the opportunity to arbitrage a profit of $496.20 before brokerage. I will be holding the extra shares for the foreseeable future.
.
Last time I got manna from heaven was Trilogy - took the bonus thousands and ran (avaricious behaviour eh)
Roger - no free lunch, I'd take the money and run
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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13-03-2017, 11:11 AM
#8939
Nah...unlike the manna from heaven that the Israelites had to eat fresh every day or it turned to maggots this manna is like good wine, gets better with age and its the gift you give yourself by keeping it and it keeps giving back with the first installment only weeks away $500 return for 3 minutes work form filling online...wish my practice ran that way
Last edited by Beagle; 13-03-2017 at 11:14 AM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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13-03-2017, 11:12 AM
#8940
Originally Posted by JeremyALD
Im pretty happy with around 5K. I was thinking it might be less.
I needed some more cash to invest in RBD and ATM anyway hehe
I was hoping for a few more, but I couldn't really afford the full $15k I applied for, and if I had received the full amount then I would have been selling some straight away. As it is I will probably be buying a few more when the refund comes through.
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