NAB - National Australia Bank

[Taltan]

Not happy. 1k nice but 3k would be better. Actually I wouldnt mind except that us retail holders get screwed by the instituitons. Surely its time ASIC/ASX heard of internet banking and got things in order.

I need my non-alloted money back by Sep 4th for the GMG offer, but I dont like my chances. If there's no word by Monday I'll have to raise the GMG funds elsewhere.

 

[Amor_Fati]

I know people have predicted around 200 shares for those who applied for the full amount. Just to confirm, I checked my Investor Centre service at www.computershare.com.au and I have 202 more NAB registered than I used to.

They have not shown up in my Commsec account though so I don't think I can sell them yet. I don't need to sell them though as I sold some as soon as I sent my cheque off to reduce my exposure a bit. I sold 250 because I didn't want to end up with too many more than I started with

 

[SilverRanger]

I know people have predicted around 200 shares for those who applied for the full amount. Just to confirm, I checked my Investor Centre service at www.computershare.com.au and I have 202 more NAB registered than I used to.

They have not shown up in my Commsec account though so I don't think I can sell them yet. I don't need to sell them though as I sold some as soon as I sent my cheque off to reduce my exposure a bit. I sold 250 because I didn't want to end up with too many more than I started with

Sold off the allocated 202 shares today. (I am with NAB as the broker, maybe that explains why I get to sell the shares quicker? )

 

[YELNATS]

Received my 2 lots of 202 shares today and continuing to hold. The price has performed remarkably well today - up about 3% despite some inevitable sell-offs of the new allocations.

 

[nalima]

I am still waiting for my lots. I do not know where the shares will end up , it does not show in my Etrade account.

 

[nomore4s]

I am still waiting for my lots. I do not know where the shares will end up , it does not show in my Etrade account.

They should end up in the account where the shares that qualified you for the spp are held.

They should show up in your etrade account tomorrow.

You can also check this link to see your holdings - this should be up to date.
http://www-au.computershare.com/Default.asp?bhjs=1&fla=0&cc=AU&lang=EN

In the login in box at the top right bring up "Check a holding" and follow the process from there.

 

[nulla nulla]

I'm a bit cheesed off. I had to sell shares that were increasing in value to raise $15,000.00. Now I find out instead of getting 698 shares I will likely only receive 202 shares.
They have had my $15,000.00 for weeks and will repay the difference on 2 September 2009. I think it sucks that NAB issued bulk shares to the institutions and shafted the long suffering retail holders, rather than looking to the retail shareholders first then going to institutional investors for any shortfall.
Just another example of the Directors and Managers looking after their bonuses and exorbitant salary packages in cahoots with the institutional investors at the expence of shareholders. I mean, lets be honest about this, it was the institutional share holders that were lending out shares to hedge funds to short the shares that drove down the prices in the first place.

 

[airpoe]

I'm a bit cheesed off. I had to sell shares that were increasing in value to raise $15,000.00. Now I find out instead of getting 698 shares I will likely only receive 202 shares.
They have had my $15,000.00 for weeks and will repay the difference on 2 September 2009. I think it sucks that NAB issued bulk shares to the institutions and shafted the long suffering retail holders, rather than looking to the retail shareholders first then going to institutional investors for any shortfall.
Just another example of the Directors and Managers looking after their bonuses and exorbitant salary packages in cahoots with the institutional investors at the expence of shareholders. I mean, lets be honest about this, it was the institutional share holders that were lending out shares to hedge funds to short the shares that drove down the prices in the first place.

I am in the same boat as you!!

Had to sell all my 247 NAB shares to raise $15k.
They probably saw the price being so high that they don't want the little investors to make to much gain & gain more power (money)

And the slow refund as well, didn't they state they will refund when the shares are allocated?

 

[nomore4s]

No offence, but the terms of the spp were clearly set out with a maximum of $750 million to be raised, it is pretty standard to offer it to the institutional investors first and in a way retail investors are lucky to even get a crack at all imo.

The risk of scale back was well known before buying into the SPP. Selling your existing holdings was your choice and there was little doubt that the spp would be oversubscribed and therefore scaled back with the current sp so far above the issue price.

lol, nulla nulla it wasn't short selling that drove the share prices down it was a little thing called the GFC.

 

[oldblue]

Yes, that's the way it was.

We all went into this issue knowing that the odds on a heavy scale-back were pretty high, although perhaps also hoping for a better result a la ANZ's issue.
On the bright side, we got a few shares at a good price and the NAB SP continues to perform.

Glass half full.

 

[doctorj]

Word here is that NAB are running the numbers on UK based insurer Legal & General - FT have covered the story today. It might make some sense, NAB has a bit of a war chest, can't buy much in Aus, the AUD is strong and L&G have been in play for some time. They already sell L&G policies through their branch network here and L&G has a reputation as one of the most efficient players in the market (and therefore you could draw parallels with the takeover of MLC).

It won't come cheap, but there is plenty of upside with EU rules potentially giving them greater access to Europe.

 

[McCoy Pauley]

NAB in a trading halt this morning after announcing a takeover offer for AXA APH which has been recommended by the independent directors of AXA to be accepted.

Link to the investor presentation released by NAB: http://www.asx.com.au/asxpdf/20091217/pdf/31msn3k8sc1sln.pdf

NAB will pay A$4.61 billion, payable in cash or a combination of NAB shares and cash at the election of AXA shareholders. NAB will undertake a pro-rata equity raising of A$1.5 billion to help pay for the acquisition.

Two trades were done this morning before NAB was halted. It will be interesting to see how the market takes this given that all the public speculation was the AXA SA/AMP bid for AXA APH.

Disc - don't own NAB shares but almost bought them yesterday and I still remain interested in them at the moment.

 

[The Owls]

Good afternoon. Can someone please explain why NAB share have been dropping over the past 4-6 weeks and in particular the reason for a 4-650% drop today.

 

[skc]

Good afternoon. Can someone please explain why NAB share have been dropping over the past 4-6 weeks and in particular the reason for a 4-650% drop today.

Fall in past 4-6 weeks was much in line with the overall finance sector. All the banks have come a long way since the bottom. Some retracement is probably in line even if the fundamental are still there.

The fall today was due to the AXA takeover announcement. NAB is planning to do a rights issue to fund the bid. Probably over done given the rights not even been issued yet!

 

[Bill M]

The fall today was due to the AXA takeover announcement. NAB is planning to do a rights issue to fund the bid. Probably over done given the rights not even been issued yet!

I am in the process of cashing up in order to purchase any entitlements through the rights issue. The lower NAB shares go in the short term the cheaper we can pick up the rights issue. Details are a bit sketchy at the moment. Been waiting for an opportunity to buy in at lower prices.

 

[oldblue]

I don't see this being a big rights issue if NAB are looking to raise 'only' $1.5b, as indicated.

At say $25ps and with over 2b shares on issue it would only need about a 1 for 30 issue to do the job. Of course, NAB might take the opportunity to raise more than the $1.5b and they may discount the rights price below $25. But in any case, it shouldn't be a huge call on individual shareholders, assuming one doesn't hold stacks of the stuff!



Disc: Modest holder.

 

[Kryzz]

NAB looks interesting from a technical point of view too, with RE to EW, law of alternation in play, sitting in the retracement zone also, maybe poised for a gap fill trade too?

 

[McCoy Pauley]

NAB subsidiary Great Western cherry-picking distressed banking assets in the USA, this time picking off a farming-based bank in Iowa.

http://www.theage.com.au/business/nab-snaps-up-struggling-us-bank-assets-20100202-n9qq.html

Disc - I hold NAB shares.

 

[The Owls]

I am just wondering where are the financial analysts comments as to why NAB shares have dropped 17.30% since 10th Oct 2009. If other companies shares had dropped this amount the newspapers would be full of their opinions. Can anyone in simple talk explain this massive drop.

 

[oldblue]

It's probably got something to do with the NAB's substantial exposure to the UK market which the other big 3 don't have.