With very small holdings, scale backs are a part of life in this game, as is recycling the capital given there isn’t enough spare capacity to hang on with loans to repay and other capital raisings to attend to:In terms of the pipeline, funds have been committed to NAB, Lend Lease, Newcrest and Charter Hall Retail and beyond that there are SPP offers to contemplate from Dicker Data, Ingenia, Credit Corp, United Malt, Charter Hall Social Infrastructure and Breville, plus Australian Finance Group is offering unlimited overs on its non-renounceable entitlement offer.The master list, with all the specifics on each offer, is being regularly
The AMP board no longer has any belief that it can chart a way forward for the beleaguered wealth management giant. And given that the maximum SPP amount has doubled from $15,000 to $30,000 since then, there is every chance this latest SPP will attract as much as $4 billion. Received $34.5 million and scaled back to $29 million with everyone receiving a minimum of 235 shares costing $2503. First name is required.
Email is required. Mobile phone number is invalid. But market sources emphasised ASIC was already determined to push for disclosure requirements in its discussions with the ASX.While NAB’s retail shareholders account for 48 per cent of its register, a share purchase plan (SPP) allowing them to participate in the capital raising is currently limited to $500 million. Alternatively, Solly could have taken up the placement shares and then sold down later. However, applicants will pay a maximum of A$14.15 per SPP Share, and may pay less depending on the market price of NAB shares. The peer calculation is inclusive of admin and management fees; excludes brokerage and no withdrawals have been made. Approximately 98% of applicants will receive at least their pro-rata allocation. If you don’t ask you don’t get.It’s noteworthy to contrast the refund scenarios used by some other companies managing SPP scale backs:If best practice is seven day business days, Ramsay’s 10 is too long, particularly when there is a flurry of offers and many shareholders don’t have the capacity to take them all up, hence they need refunds back in their accounts as quickly as possible.Last week was significantly quieter in terms of new capital raising announcements with only the following issue being added to There were a few more from relative tiddlers such as Kyckr, Core Lithium and Warrego Energy but none were above $20 million.As for other completed raisings, Metcash only attracted $13.6 million for its SPP which has The QBE Insurance SPP also completed with differential pricing courtesy of poor share price performance. "FREE" : "$" + t.Cost.toFixed(2) }}
You must accept the terms and conditions. Fee data may not include all costs being charged such as platform and adviser fees. Historical performance is not a reliable indicator of future performance. You now have access to Free InvestSMART Insights, we look forward to helping you on your financial journey.You now have access to Free Eureka Report Insights. It’s bad enough dealing with regulators, let along having well funded civil actions launched against you.It’s a bit rough that Downer shareholders ended up contributing to the settlement given they came along later and bought Spotless.Okay, so it sounds like Big Fish was indeed sailing close to the wind in a heavily regulated industry. Looks you are already a member. The board should have seen this coming.If NAB imposes a heavy scale back and retains the SPP cap at $500 million, it will face quite a backlash, including a contested board election at its December AGM, similar to what happened in 2009.An acceptable SPP increase by NAB would be to a minimum of $1 billion, but preferably it would be 48 per cent of the overall capital raising, matching the Ramsay model. Email must be a valid email. ", My guess is a a 1 for 1 "prorata" basis.
Please enter your password to proceed It may take a few minutes to update your subscription details, during this time you will not be able to view locked content. The opportunity cost for Solly’s non-participation was immediately around $5 million. This may not include all funds available for retail investment in Australia. Mobile phone number is required. ^ Only funds and investment products included in the Morningstar Australia database are available for fee and performance comparison. Fees are calculated by Morningstar as the average over 10 years. We look forward to helping you on your financial journey.You now have access to Intelligent Investor Free Insights. A text message with your verification code was just sent to {{user.DayPhone}}We cannot send you a code via SMS to {{user.DayPhone}}We'll send you a text message with a verification code to start your free {{ '1' == '1' ? Scale back was pro rata based on size of holding with a minimum allocation of $1000 worth of shares.
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