Dona Ferentes
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? ... or ?
ANZ - ANZ Banking Group
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? ... or ?
Craton
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Am holding so will be interested to see what price the rights although, I'll more than likely take up the offer. You know, for the divvy's.
Dona Ferentes
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ANZ Bank has raised $1.7 billion from institutional investors; it said approximately 95 per cent of entitlements available were taken up. The entitlements not cleared were sold in the institutional shortfall bookbuild at $21.65 per new share, which was $2.75 above the offer price of $18.90 per share.
.... so there is some demand, which should bode well for the rights
Virtually the same as yesterday's close. Seems a bit high to me
I would like to buy more, as the dividend yield is quite good, but maybe down towards $20, if it gets there.
KH
Dona Ferentes
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Yes, it is a bit heroic. Though notionally it shouldn't be too low, only 40c less. But these things always jump around.
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to save ppl having to trawl thru the announcements for this sort of stuff (as i just did that), the renounceable rights commenced trading today under the ticker ANZR on a deferred settlement basis. they will switch to standard settlements on jul 29 and be tradeable up until aug 8.
i'm probably going to just sell my rights on the market. usually for the non-renounceable ones i take them up, but i only have a smallish ANZ position and am not too keen to take on odd lots, i prefer nice round numbers for position sizing (partly because of OCD, which i'm pretty sure i have, but it also has a practical slant to it as it's easier to do multiplication in your head on round numbers when thinking over portfolio weighting etc) so i'll probably end up selling them for whatever i can get.
i'm probably going to just sell my rights on the market. usually for the non-renounceable ones i take them up, but i only have a smallish ANZ position and am not too keen to take on odd lots, i prefer nice round numbers for position sizing (partly because of OCD, which i'm pretty sure i have, but it also has a practical slant to it as it's easier to do multiplication in your head on round numbers when thinking over portfolio weighting etc) so i'll probably end up selling them for whatever i can get.
lol, you're like me. Everything I buy has to be two significant digits only.
However, I won't be selling the rights on market as brokerage cost as a percentage of trade value will be too high, and I don't like that at all. In this case, I will be taking up my very small rights allotment. Next time I buy ANZ, I can guarantee you that the total number of shares after the next purchase will be rounded correctly!
KH
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ah, a fellow aficionado of the beauty of round numbered position sizes! yep, i understand completely. one time many years ago, before i got into the habit of checking lot size before every trade, i sold 40 puts and just assumed i'd take delivery of 4000 units if they expired ITM, which i was totally fine with. i didn't realise they were one of those weird 107 lot size contracts until they actually got assigned. the next day i was punching in an order to buy exactly 720 units of the underlying pronto!
yeah the brokerage is a bit of an annoyance. my ANZ position is held in IB though, so it's not all that bad. 6 AUD minimums at IB, that's an acceptable price for satisfying my OCD. i don't really want a bigger ANZ position at the moment, so simply selling the rights seems a better alternative for me than taking up the offer and then buying the required units to top up the position to the nearest thousand.
$6 isn't too bad. $15 (for less than $5k) at NABTrade is a bit over the top, though.
Maybe I just have to accept IB with all its faults, and stay there, at least anyway, for ordinary shares. I'll never buy any form of trust through them again.
KH
Dona Ferentes
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I've sold my ANZR, deciding to take $800 now, pay a bit of tax in a year's time, rather than find $4k in a few week's time (money that can stay in the SMSF.)
I have a bit of a sentimental attachment to the ANZ holding; soon to have in my name for 30 years, prior to which they were originally ES&A in dad's name. Cost base $6.
I have a bit of a sentimental attachment to the ANZ holding; soon to have in my name for 30 years, prior to which they were originally ES&A in dad's name. Cost base $6.
Craton
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OCD?
I used to be a bit anal about nicely rounded parcel, percentage, dollar numbers etc, nowadays I find it trivial. No, I'm not saying if one does this that they are trivial, each to their own and all that, for me that compulsion has faded.
Nice little bonus.
ANZR - as I like divvy's I will be taking these up.
ANZ/Esanda was where dad kept his Savings and Term Deposits and boy, wasn't he over the moon back in those high interest days of decades long gone. He couldn't believe how quickly that compound interest added up!
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obsessive compulsive disorder
from the wiki: Common obsessions include fear of contamination, obsession with symmetry, and intrusive thoughts about religion, sex, and harm.
the highlighted bit is probably the only part that i have, basically i like seeing things arranged neatly, in fact i would even go as far as to say that it gives a (mild) dopamine hit when they are all lined up nicely. which in the context of investing, is positions sized to exact multiples of 1000, 5000, 10000 etc. depending on the unit price and what sort of weighting i'm after.
it's pretty mild TBH, i don't feel terribly disturbed or upset or anything like that if things aren't arranged neatly, i can deal with it if i have to (one of my current SGX positions is 40,025, i ended up with this position due to a REIT merger a few years ago, but as the SGX uses 100 lot size, i can't simply go and buy 9,975 units without incurring hefty odd lot fees and doing a lot of legwork, too much trouble so i just live with it. but believe me i did look into what the procedure was to fix odd lots, before deciding it was too onerous to bother).
but if i don't have to go too far out of my way to top up (or trim down) a position to a nice round number, then i'll go ahead and do it for the sake of symmetry. i know it makes virtually no practical difference whether i hold 40,025 units or 40,000 units, i just like seeing those round numbers all lined up. interested to hear whether KevinBB has similar or different reasons for sizing positions in this way.
Because I can
The benefit in doing this (i.e. rounding to two significant digits, or even multiples) is that very quick estimates can be done in the head, without relying on a calculator. That's just the way I work.
I like rounded numbers, in particular those that are a multiple of 4 or 8. Two quick examples: My IOZ purchases and sales are always in a multiple of 400, and my trend following system uses moving average crossovers and breakouts that are all in multiples of 4 or 8.
btw, I paid up for ANZ this morning, $18.90 is too good of a bargain to miss out on. So now have until 24 August to add to this holding.
KH
Just a bit of a heads-up for those who choose to exercise their ANZ rights.
Once the ANZR rights are exercised, ANZR will disappear from your holdings and be replaced by ANZN (it has done so on my NABTrade). I assume that these ANZN will convert to ANZ on either 24 or 25 August as per Key Dates in the Retail Entitlement Offer booklet.
KH
It sure looks that way, considering the Insto's took up 95 % of their entitlement in real quick time, then paid another $2.75 a share above the $ 18.90 offer price, in the institutional shortfall bookbuild.
Sways me a bit, to grudgingly cough up ten grand for the rights. Fifteen years ago , previous CEO, Englishman Mike Smith was supposed to be the great white hope for ANZ with his charge into Asia. That all ended in failure. Wasted billions on China. New bloke , Elliot ? Another dud, still squandering millions on his hopeless platform rollout.
I'm still waiting for another crack at that big mother, Macquarie, but the S. P. simply refuses to come down. Why haven't any of the crack traders on this forum called the bottom of the market for me yet? .....I'm starting to think I've missed it, this time.
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When do these rights have to be paid by, the missus has some in her name and it's easier asking you guys than her.
5pm on 15 August, according to the Key Dates page in the Retail Entitlement booklet.When do these rights have to be paid by, the missus has some in her name and it's easier asking you guys than her.
KH
ANZ's Retail Shortfall Bookbuild entitlement cleared at a price of $23.00 , $4.10 above the $18.90 offer price.
That $ 4.10 premium is what retail shareholders will now get for not taking up the offer. The rights did trade at $ 4.10 at one stage but the volume weighted average price , was $ 3.75.
Only 40% of the mums and dads elected to take up the $ 18.90 offer.
Still, the 64 % ( by value ) participation rate, raised $ 1.15 Billion.
That $ 4.10 premium is what retail shareholders will now get for not taking up the offer. The rights did trade at $ 4.10 at one stage but the volume weighted average price , was $ 3.75.
Only 40% of the mums and dads elected to take up the $ 18.90 offer.
Still, the 64 % ( by value ) participation rate, raised $ 1.15 Billion.
Dona Ferentes
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- ANZ earned $7.12 billion in statutory profit after tax for the full year ended in September, up 16 per cent from a year ago.
- Cash profit from continuing operations rose 5 per cent to $6.5 billion.
- ANZ’s equity tier 1 ratio is at 12.3 per cent, taking cash return on equity at 10.4 per cent.
- The final dividend is 74¢ per share, fully franked.
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