.......even at $1.15 they/we are in for about a 12% return in year 1.........if Im correct??.......they won't be able to resist that sort of annualized return for their clients!! (im picking $1.15 plus day1)
I applied via the website for 30,000 and been allocated 22,750, 75.8% of what I asked for. If I had applied via John Key's rich broker mates (and thus giving them a juicy cut via stamp duty) I would of got 90% or 27,000 shares. This is despite plenty of hints that average retail investors applying via the public pool will be favored over the broker pool.
No wonder why so few people bothered. To many games being played and a lack of transparent information.
When will they learn that if they have to flog off public assets, to do so at the highest price possible and to allocate to NZ investors and institutions first and then to overseas buyers?!?! I was willing to pay $1.6 and have no intention to sell. Hell I still hold all of my CEN allocation from 1999!
No doubt the investment bankers advising the government made a killing for all the self interested advice they gave. Maybe this is what Bill English meant when he referred to helping NZ's investment community... by transferring taxpayer dollars to well paid brokers!
hey JAA........just be thankful you got that number......you shud do all right out of that Im picking. Yes their might be fewer mums and dads into this float but the big players have piled into it I believe.
so why have the broker firm allocation only been scaled 10%
disc have heaps coming via broker
Have they only been scaled by 10%. I can't find an article that states that. I suspect there is a sliding scale at play. I had no scaling, percy 10%, jaa ~25%.
"While Meridian will be 86.7 percent owned by New Zealanders, including the government, but it is clear it has attracted larger retail investors as there is scaling back required for some investors, who will be unable to buy as many shares as they applied for.Investors who sought more than $20,000 of shares will receive only 55 percent of what they sought."
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Originally Posted by snapiti
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