ANZ.NZX - Anyone holding?

[theace]

What's the price for the 'share issue'?

[arc]

Now at $26.86. I'm thinking of passing up the share issue and buying on the market.

I suggest you have a long look at the history of the share price. It is presently lower than it was in 2013... and it is still falling !.
Overseas banks are also still falling.

The global event that happened August 7 appears to have hit almost Every Large company on most of the stock exchanges.
Looking at the last 14 days the price has tried to rally from 29 to 32, failed and fallen back.. and continues to do so...

Red flag territory

[macduffy]

Now at $26.86. I'm thinking of passing up the share issue and buying on the market.

The price will be set on the volume-weighted average price of ANZ shares traded on the ASX during the 5 trading days up to, and including, the scheduled closing day (Tues 8 Sept), less a 2% discount. Seems a better deal to me, almost certainly, than paying brokerage to buy on market - and forgoing the 2% discount.

Disc: I've applied for a chunk.

[Nasi Goreng]

I bought mine on ASX and they didn't make it easy to take advantage of the offer. I would have had to get a bank cheque and pay retail on exchange rate plus then mail in with application form.

You would think that they would have made it easier given they have branches over here but oh well, I can now choose to buy on market and they don't get my capital.

I think we may see a bit of buying after this is closed. There can't be too many buyers right now, it's in most retail investors interests to drive price as low as possible during this cap raise period.

[Nasi Goreng]

I wasn't familar with BPAY so thanks for the heads up. I will still hold off on capital raise. We may see a bump after capital raise and if so great, if not, I have penciled in $24AUD as a price where I may top up. If we get there, I may revise that to $23 lol.

[Tomtom]

Just at a glance I notice ANZ banks shareprice is back at '06 levels. So obviously it's been returning steady dividends to shareholders over that time so why has the banks shareprice ended up the same place it was about a decade ago? Is there more going on here than meets the eye? Taken at face value the price looks attractive but if this was such a steal I'm sure the PE would be pushed out further.

[macduffy]

The short answer is that the market (a) doesn't think that past growth will be maintained and (b) that a recession in Aust/NZ will impact, particularly through lower house valuations and subsequent loan problems. All Aust and NZ bank shareprices are being affected to some degree.

[BlackCross]

ANZ have been very aggressive in lending to business over the last few years....perhaps too aggressive if there's any sort of recession.

[macduffy]

ANZ have been very aggressive in lending to business over the last few years....perhaps too aggressive if there's any sort of recession.

I didn't know that! The usual comment is that the banks neglect lending to business in favour of the more "plain vanilla" housing lending, thus restraining the economy and inflating property prices. Until recently, capital ratio rules have fostered this bias by favouring lending for housing.

So ANZ have been more accommodating towards business than the other majors?

[Bjauck]

I didn't know that! The usual comment is that the banks neglect lending to business in favour of the more "plain vanilla" housing lending, thus restraining the economy and inflating property prices. Until recently, capital ratio rules have fostered this bias by favouring lending for housing.

So ANZ have been more accommodating towards business than the other majors?

I must admit, compared with the other banks, I thought that ANZ was more exposed to residential mortgages and Asia.

Disc: Despite being a long-term ANZ shareholder, I admit to only looking at the photos in the annual report and perusing the Newspaper headlines concerning ANZ!