ANZ - ANZ Banking Group

[bonkerrs]

"The issue was limited to institutions and sophisticated and professional investors" - ANZ Company Annoucement

This mean I get to participate? I'm a pretty sophisticated bloke!! But seriously, this mean the ordinary shareholders cannot participate? Don't know if I'd want to anyway but would like to know.

 

[KurwaJegoMac]

From theAustralian.news.com.au

ANZ said it has launched a fully underwritten institutional share placement to raise $2.5 billion, at $14.40 a share -- a 7.5 per cent discount to its last traded price of $15.57. It will also raise up to $350 million through an offer to retail investors through a share purchase plan.

I think from memory that the offer to retail investors is limited to $15,000 worth of shares.

Link to full article:

http://www.theaustralian.news.com.au/business/story/0,28124,25545157-643,00.html

 

[Bill M]

"The issue was limited to institutions and sophisticated and professional investors" - ANZ Company Annoucement

This mean I get to participate? I'm a pretty sophisticated bloke!! But seriously, this mean the ordinary shareholders cannot participate? Don't know if I'd want to anyway but would like to know.

Yeah mate, you will get a bite. What I did with a couple of others is sell now at say $15.50 then buy the discounted stock through the share purchase plan. That way you pick up a $1 per share, just another way of getting something out of it for yourself.

 

[bonkerrs]

Yeah mate, you will get a bite. What I did with a couple of others is sell now at say $15.50 then buy the discounted stock through the share purchase plan. That way you pick up a $1 per share, just another way of getting something out of it for yourself.

GDay Bill, I just sent you a private message.

 

[investorpaul]

If your Short ANZ (via CFDs) is there any additional obligation when a capital raising is undertaken at a discount to mark. Eg like when the stock goes ex div if your short you pay the div?

 

[bonkerrs]

Going off the latest announcement from ANZ you are eligible for the SPP if you held shares on the 26 May 2009 and still have them until 7pm 1st June 2009.

Am I right to say that you can sell off your shares on 2nd June onwards and still be entitled to participate?

 

[Bill M]

Bonkerrs, it is a bit like the ex dividend date and record date. Record date is of no relevance but if you buy before the ex dividend date then you will get the dividend.

In this case if you owned ANZ shares on the 26th then you should be ok for the SPP. That's the way it normally works and you can in fact sell those shares you owned on the 26th now. Today looks like a nice day to sell.

To be sure ring up the share registry and enquire. A phone call to make sure will give you piece of mind. Did you get my PM?

 

[bonkerrs]

Hi Bill. Thanks for the PM. I haven't replied, still digesting it... slowly. Will do soon.

I'll give the share registry a buzz today I think.

edit: Just got off the phone with the ANZ shares people, they don't know... seriously, she couldn't tell me if I sold my shares today if I'd still be eligible for the SPP.

 

[Iggy_Pop]

Does anyone know when the ANZ capital raising is going to happen? It should be coming up soon.


Iggy Pop

 

[KurwaJegoMac]

Details were released to the market today. You can find them at:

http://www.asx.com.au/asxpdf/20090610/pdf/31j00bps89hpm6.pdf

 

[Bill M]

The SPP opens on Thursday, 11 June 2009 and is scheduled to close at 5.00pm (Melbourne time) on Thursday, 2 July 2009.

It should be in the mail soon.

 

[mrluva]

Hi Guyz, I'm new in trading world and trading with comsec. I'm eligible to purchase SPP.(I bought ANZ on 20may and sold on 4june)
Can anyone please tell me if it is a gud idea to buy these.
ANZ says shares will be alloted on 13 July, 2009, does it mean if I buy shares tomorrow 11 June I will not be able to resell those untill 12 july?
and What is the procedure to sell those shares(its easy with comsec I just press sell button)
Should I buy as many I can first thing in the morning. I dont know if it is a gud opportunity or not.

 

[MACCA350]

Hi Guyz, I'm new in trading world and trading with comsec. I'm eligible to purchase SPP.(I bought ANZ on 20may and sold on 4june)
Can anyone please tell me if it is a gud idea to buy these.
ANZ says shares will be alloted on 13 July, 2009, does it mean if I buy shares tomorrow 11 June I will not be able to resell those untill 12 july?

If you don't currently own ANZ shares you cannot sell the new shares until they have traded on the ASX

and What is the procedure to sell those shares(its easy with comsec I just press sell button)

They should show up in your comsec account, so you can trade them as you usually do.

Should I buy as many I can first thing in the morning. I dont know if it is a gud opportunity or not.

Chances are that the SP will fall when the new shares are traded, that's not to say they will though, as for a longer term view they should increase in value. On the other hand ANZ have been paying a decent dividend, so it's up to you to decide what is best for your needs.

cheers

 

[ricee007]

Hi Guyz, I'm new in trading world and trading with comsec. I'm eligible to purchase SPP.(I bought ANZ on 20may and sold on 4june)
Can anyone please tell me if it is a gud idea to buy these.
ANZ says shares will be alloted on 13 July, 2009, does it mean if I buy shares tomorrow 11 June I will not be able to resell those untill 12 july?
and What is the procedure to sell those shares(its easy with comsec I just press sell button)
Should I buy as many I can first thing in the morning. I dont know if it is a gud opportunity or not.

You have until the 2nd July to make up your mind.

You can wait a couple of weeks to see what the share price does, if it falls to, say, $10... you probably wouldn't want to take up the SPP. If it rises to, say, $30, you would be an idiot if you didn't. There is no need to rush out tomorrow morning... spend a week or two researching and learning.

If shares are alloted 13th July, in theory, you won't be able to trade them till the 13th July, but, then will be able to do so just using Commsec like you would normally. In practise, anytime from the 6th July you *may* be able to sell them.... depends if it's your lucky day or not.

In your post, you specifically asked for financial advice multiple times, we are not allowed to give you financial advice.
"Can anyone please tell me if it is a gud idea to buy these." Is illegal for most people on this forum to answer, and against the forum rules for anyone on this forum to answer. A better way to get the same answer, is to ask for our thoughts on the SPP.... not what we recommend you do.

As to my thoughts on the SPP... MAK, CBA, MQG all went up after their SPP... I think this will be a good buy, but, despite being eligible, I won't be participating due to wanting to save my money for a combination, or one of:
MAK SPP
Putting money into super for the co-contribution bonus.
BEPPA

Having said that, if I had unlimited resources, I would probably take up the offer (waiting till the last possible week, to get more information).

Kind Regards,
Rhys.

 

[Bill M]

You have until the 2nd July to make up your mind.

You can wait a couple of weeks to see what the share price does, if it falls to, say, $10... you probably wouldn't want to take up the SPP. If it rises to, say, $30, you would be an idiot if you didn't. There is no need to rush out tomorrow morning... spend a week or two researching and learning.

Kind Regards,
Rhys.

I fully agree with Rhys here. I've participated in a few of these and watch the share price up until 2 days before the closing date, then if the FPO shares are trading well above the SPP price I BPay into it.

Just wanted to point out that if it did slip well below the $14.40 issue price then VWAP will kick in. The volume-weighted average price of ANZ ordinary shares traded on ASX during the 5 trading days up to, and including, the day on which the SPP is scheduled to close (Thursday, 2 July 2009) rounded down to the nearest cent.

So in that case if it were to slip to $10 on the 5 trading days up to the spp closing date then you would get it at the cheaper price.

 

[ricee007]

Just wanted to point out that if it did slip well below the $14.40 issue price then VWAP will kick in. The volume-weighted average price of ANZ ordinary shares traded on ASX during the 5 trading days up to, and including, the day on which the SPP is scheduled to close (Thursday, 2 July 2009) rounded down to the nearest cent.

So in that case if it were to slip to $10 on the 5 trading days up to the spp closing date then you would get it at the cheaper price.

Sorry, I didn't make that clear.

Yes, but it would mean ANZ would have dropped from about $17 to $10 in about 2-3 weeks....

I don't know about you, but I don't want to buy into a SPP that has just recently done that!!! Especially since you are unable to trade for about 2 weeks after the offer closes, and you are left at the mercy of the markets...

 

[mrluva]

Thanx all, that was great help...I think I'll watch and see for couple of weeks before making decision...hopefully they are not sold out or reached limit($350 Million) by that time..

 

[ricee007]

Thanx all, that was great help...I think I'll watch and see for couple of weeks before making decision...hopefully they are not sold out or reached limit($350 Million) by that time..

It is rare that SPPs are scaled-back by first-come, first-served.

I would imagine that they would certainly tell you at the time of announcing the SPP.

Read the offer booklet;
http://asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=ANZ#headlines

The most common ways of scaleback are:
Pro-rata....

If ANZ want $350M of capital, and people apply for $700m...
If you applied for $10,000 shares you would get 350M/750M * $10,000 = $5,000.

Or...
If you hold 1,000 shares and apply for $10,000 shares....
And someone else holds 500 shares, and applies for $10,000 shares...

The person holding 1,000 shares will get $10,000 of shares, and the person holding 500 shares will get $5,000 of shares.

However, in reality, the MOST likly scenario, IMHO, is no scaleback; that ANZ will take whatever capital it can get.

 

[mrluva]

Ok, Thanx Riceee...this does make sense now..I will try ringing ANZ to confirm the process they will follow...I had 590 shares on the record date..(don't have any now) so I should be OK I suppose,
Well if this is the case I will definitly wait and watch and use my money playing with other shares in the meantime.

 

[ricee007]

Ok, Thanx Riceee...this does make sense now..I will try ringing ANZ to confirm the process they will follow...I had 590 shares on the record date..(don't have any now) so I should be OK I suppose,
Well if this is the case I will definitly wait and watch and use my money playing with other shares in the meantime.

Playing with shares is like playing with fire.

Awesome fun, but dangerous.

In the next couple of days, you should get paperwork in the mail about what to do regarding the SPP.