As you suggest Snapiti, after the oil, gas and LPG price collapse makes sense to sure-up the ship and as others have suggested this sale is small fry compared to their exit in Australia.
Good too see you have the courage of your convictions to snap up some more Good comments on limited port infrastructure, POA certainly under really close scrutiny in regard to any further possible expansion.
So many variables with this one...I'd imagine the low oil price is really helping with refinery margins...but for how long and is AIR a better way to play this ? but the currency is coming down with a thud so that sure helps NZR shareholders, not AIR. As long as all your ducks continue to line up and keep quacking with the wind you'll be happy.
This past week has been a terrible one for my portfolio, not helped by the Chevron offload. Fortunately I see that the exchange rate continues to work in NZR's favour. I would have loved to have been able to pick up some shares at $2.32 or whatever it was. Question in regards to the bookbuild as im not really sure how they work........ I assume that Craigs would have negotiated the price of $2.32, then they on-sell the shares at a premium to that and they keep the change? and does everyone Craigs sell to buy at the same price or is it negotiated individually? Or does Craigs just charge Chevron a flat fee and Chevron effectively gets the price paid by the individuals taking up the bookbuild?
Lastly.... when do the shares procured by individuals via the bookbuild become tradable on the NZX (i.e. will we see some offloading on the NZX soon for those who just wanted to make a quick buck??)
Int questions. Me being a smaller client I'm a price taker but i think large ones can negotiate within a narrow price band. Im pretty sure i can sell my shares just like any other ones I've bought ,straight away, don't have to wait 3 days like some as I'm a client of Craigs. Craigs make a standard commission on the sale to clients of up to 1% on top of any other fees/prices they've negotiated with Chevron if any. Pretty competitive amongst brokers to get these oneoffs .
Cheers Joshuatree, good to know. I guess we shall wait to see if their is a softening in S/P due to those extras being on the market now.....
Originally Posted by Joshuatree
Int questions. Me being a smaller client I'm a price taker but i think large ones can negotiate within a narrow price band. Im pretty sure i can sell my shares just like any other ones I've bought ,straight away, don't have to wait 3 days like some as I'm a client of Craigs. Craigs make a standard commission on the sale to clients of up to 1% on top of any other fees/prices they've negotiated with Chevron if any. Pretty competitive amongst brokers to get these oneoffs .
Good pickup on the ASX bull. Im assuming the NZR shares all went to little investors like me so maybe retailing outlets like caltex that someone else suggested.?
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