ANZ.NZX - Anyone holding?

[Muse]

I guess ANZ had no choice. Organic growth just isnt going to cut it. Had to buy a book. Probably look back in 10 years and think what an amazing move.

Worked well when ANZ bought then merged National Bank. ANZ biggest bank in NZ

basically ANZ just buying back all the marketshare it lost over the last 5 years. they have been getting clobbered by CBA in QLD and over half of suncorps business is there, as well by non bank lenders

[Waltzing]

QLD the hot spot ... literally insurance must be on fire up in that state with global warming?

Growth must be levelling off there soon?

Aus facing some huge challenges in agri land management in the face of global warming.

[Maxtrade]

• Acquisition to be funded by a fully underwritten 1 for 15 pro rata accelerated renounceable entitlement offer to raise ~$3.5b of ordinary equity and by existing capital
  

• New ANZ shares issued under the entitlement offer will rank equally with existing ANZ shares from the date of issue including future dividends






Thoughts as to what this will do to ANZ NZX listed share price? Another one of those situations where current shareholders are basically forced to cough up more money rather than see their shares diluted and devalue.
If it weren't such a large dominant bank then SP might retrace to SP offer as with many share placement offer in other companies to date. However being a bank which is using the funds to acquire Suncorp maybe investors will actually see it as desirable and in turn SP may not follow general decline to share placement offer after a Cap Raise.

Those who hold large % of banks in their portfolios keen to hear your opinions...

[ithaka]

An observation from a poster on hotcopper

Bank A is raising capital at 0.9x book value and P/E of 9.5x


...in order to acquire....


Bank B at 1.3x book value and 13.8x P/E.

Discl: hold

[Waltzing]

good stock to trade going forward.

buy and sell it..hold? not so much..

and hopefully they back any tech other then ...

https://www.cnbc.com/2022/07/18/cryp...n-one-day.html

[Waltzing]

and they are off racing in the suncorp derby and the stakes could not be higher as they leap out of the stalls on a rain soaked heavy track .....

[dabsman]

and they are off racing in the suncorp derby and the stakes could not be higher as they leap out of the stalls on a run soaked heavy track .....

Ive got a few ANZ and wanted to top up a few months back but been buying too many HMY. I think there will be a good entry point later in the day on the ASX and then add in the 1 for 15 rights to average down the purchase a little. I'm happy long term with that result

[Grimy]

I'll probably take up my rights. Mind you, that's not many.

[theace]

I have some ANZ.NZX through Sharesies ... wonder if purchase rights will be available?

[Sideshow Bob]

I have some ANZ.NZX through Sharesies ... wonder if purchase rights will be available?

For other shares, holders via Sharesies have been able to participate in such offers. Normally Sharsies will advise direct.