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MQG - Macquarie Group

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moreld said:
Here is MQG's ASX announcement is case anyone is interested.

55,000 apps for $669M resulting in up to 25.2M new shares.

So it appears about 1/3 of eligible shares were taken up. Did the fall last week scare people away?
Click to expand...
The fall did effect my decision, I was going to put $15k when the price was $37 but it went down, so I only brought $10k

I put the other in BSL as the % was alot better but I applied for alot, probably get a massive scale back!!
 
Looking on CommSec this morning I saw this in the course of sales for MQG. Could someone explain what it means with the share price showing $86.00 which has no relation to the current price.


Trade of MQG occurring on Thursday, 04 Jun 2009
Time Price Volume Value Condition
07:05:20 AM 86.000 1,000 86,000.00 EP
 


Those early morning trades are option assignments, in your example one $86 put option. ( 1 contact = 1000 shares)
 
Cutz
I am new to the share market. Does this mean that a trade was done at $86.00 and if so why such a high amount
 
The Owls said:
Cutz
I am new to the share market. Does this mean that a trade was done at $86.00 and if so why such a high amount
Click to expand...

It sure was, the proud owner of the 86 strike put exercised his/her right to sell 1000 MQG shares to the unfortunate soul who was still short an 86 strike put contract.

Hope that makes sense, maybe check out the options threads if you like.
 
The Owls said:
Cutz
I am new to the share market. Does this mean that a trade was done at $86.00 and if so why such a high amount
Click to expand...

To add a bit more to cutz has said:

Person A would have bought a Put Contract (which gives them the right but not the obligation to sell 100 MQG shares for $86 at some future date).

Person B sold the put contract to Person A hoping MQG would not drop in price and therefore makes $$$ without really having to do anything.

Obviously the price has dropped and Person A can sell his shares using the Put Contract at $86 regardless of the current price.

Also even though this transaction went throught and shows up in the course of sales it wont reflect/impact the current market price of MQG
 
Investorpaul & Cutz
Thank you for your information it has been great, it has also shown me that I have a lot to learn.
 
MQG shares have now been allocated. You can check computershare to confirm you got your full allocation.
40% of eligible investors took up the offer, though only 1/3 of total amount was applied for.
There was no scaleback.
Shares will be available to trade next Friday 12 June.

I thought there would be a scaleback. I either underestimated the stupidity of the average retail investor or overestimated their capacity to get their hands on $15k. Once again the spoils go to the few.
 
moreld said:
I either underestimated the stupidity of the average retail investor or overestimated their capacity to get their hands on $15k. Once again the spoils go to the few.
Click to expand...

What do you mean moreid, you're sounding like Margaret Jackson. I haven't been following but a 40% takeup sounds a little weird.

Are you suggesting this was an offer that couldn't be refused, bit like the APA deal ??
 

Allotment day was yesterday Friday 5th June, once the shares have been allotted can't you sell them already or do you have to wait until next Friday?
 
cutz said:
What do you mean moreid, you're sounding like Margaret Jackson. I haven't been following but a 40% takeup sounds a little weird.

Are you suggesting this was an offer that couldn't be refused, bit like the APA deal ??
Click to expand...
The SPP had the best risk/reward profile I have seen. I'm suggesting that it was an offer that should absolutely not have been refused by retail share investors, yet 60% of eligible shareholders refused it.
 
Doesn't the fact that 60% of eligible shareholders refused indicate that MQG is still regarded in the relatively high risk category? i.e. that people might hold some of this but be reluctant to increase their holding?
 
bryan_palmer said:
Allotment day was yesterday Friday 5th June, once the shares have been allotted can't you sell them already or do you have to wait until next Friday?
Click to expand...

You could sell these shares today and do not have to wait until Friday. These companies have the right to change the dates at their discretion.
 
db96 said:
You could sell these shares today and do not have to wait until Friday. These companies have the right to change the dates at their discretion.
Click to expand...

Sure about that? The announcement on the 11th May has 12th Jun as the Trading date.

Cheers
filling chars...
 
skyQuake said:
Sure about that? The announcement on the 11th May has 12th Jun as the Trading date.

Cheers
filling chars...
Click to expand...

Yeah my colleague at worked just dumped his new holdings this morning for just over $40, I can't believe they are trading this high.

I am looking to go short now I think, tomorrow a large amount of people who think you had to hold till Friday will be selling but yeah who knows I am just speculating.
 

Hey, sorry to keep digging this up, but that person could have just dumped he pre-existing shares? I think you are allocated the shares, but cannot trade them yet.

http://asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00958927
 
What to do about voting? I have some shares in MQG but don't really know enough to make an informed vote. I'm sure I'm not the only one in this position... or am I?! What do others do?
 
haunting said:
The MacQuarie Stings, click me!

** for the record. If they prosper by reinventing themselves as some kind of new vampire, this will serve as a good reference.
Click to expand...

You have to hand it to the MacGrabsters.

MAP unitholders have been ripped off since day one for management fees paid to Macquarie Group. Now MQG are kindly going to allow MAP to run their own affairs and the "piss off you thieving bastards" payout is only $345 million!

In the article, Stuart Washington asks the question "Were the listed specialised infrastructure funds one big joke?" Well it looks like MQG are laughing all the way back to their own bank.

This has to be the final grab by the MacMasters of Bleed. Surely, one day they must run out of willing donors to bleed dry.
 
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