My wife and myself have been scaled 25% already by my broker at Craigs.In fact he was not impressed that I rang to increase the amount we wanted to put in!!!!.
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I think you'll be 'looked after' couta, but there is one step yet to be taken, and that is the bookbuild. If a brokers bid is way off the pace, they could be severely scaled or miss entirely. Unlikely for smaller guys like DB who will probably submit a volume only bid, with acceptance of the set price, but there are three scaling events:
the bookbuild, from which the broker bid may be scaled at the outset,
the brokers internal client scaling, if the broker got less than sought at step one,
then, the Crown still has the right to scale the 'firm' allocations, at their discretion
Big picture here guys...I hope you guys are not "staging' this issue Im not a socialist by any means but I hope that folk are not deluged with headlines stating %20 gains on this IPO....like how would that go down with folk trying to reconcile there future investment intentions i.e. residential properties vs the productive and beneficial Sharemarket when it appears that those who can can make a fortune overnight...because they can....this is nuts...Am I being unreasonable...
Offcourse the big picture for me is looking forward to voting against Mrs Shipley's re-election whenever that comes up.!!!
I also think it will be a very safe investment,and the dividends will be double what I am earning on bank deposit.
Not looking to make a fortune overnight,just get a good return on the present fortune?!
my sentiments exactly percy, on all counts. This is not very likely to be a stag IPO, remember everyone called it a dog. A dog doesn't have antlers.
unfortunately, the Crown still have 51% of the votes for chairman.........but we can at least register our feelings
percy, I'm genuinely surprised you have already heard your allocation, as in theory the book build hasn't even closed yet (I think, you've got me wondering now)
and I pick the price to be 1.55
My wife and I share your sentiment Percy and will relish the prospect of voting Mrs Shipley out.
I have some Chorus shares to help my dividend return. That didn't work. Not to many so no damage done. But a bit of a lesson in what the regulatory/political world can inflict on us. In spite of this lesson...I have backed all the floats. Maybe it is misplaced parochialism.
Good luck to us all. As Snoopy says (See MRP) we have an opportunity in September to address who we think we should hold to account.