Quote Originally Posted by Corleone View Post
Newbie here and... total mook learning much from the forum and very grateful to have found it. I have been hoping ANZ dipped below 33 again since it got close a few months ago. Im a novice investor and have taken a bath when following my brokers advice (my fault also didnt do my own research, didnt follow the market when overseas for many years), now I usually make small plays of around 5K, but the ANZ price neccesitates a much larger spend. Opinions very welcomed on whether now is a good time to buy.
Percy's on the money there, Corleone!

You'll be aware that ANZ are raising additional capital, partly through a Share Purchase Plan whereby shareholders get to apply for up to $15,000 worth of shares, subject to scaling in the event of oversubscription. The issue has already gone "ex" so purchases on market now won't qualify. The issue price will be the lesser of $A30.95 or the weighted average market price over the 5 days prior to the issue closing in early Sept, less a small discount, 2% from memory. The current market price is less than $A30.95 and there is a theory that buyers will keep it that way to depress the issue price. Maybe, maybe not. Just a point to bear in mind if weighing whether or not now is a good time to buy.