Try a few years then,
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Thanks Josh, the facts have changed so I am able to change my mind. I was lucky enough to sell my holding yesterday intending to buy back in at the SPP. I will let the dust settle before my next move. Perhaps in a few years🤔
And there she blows, you can get your WBC shares now at a significant discount to the SPP price.
This article raises an interesting point about the institutions that have already tipped in billions to hoover up the "cheap" shares though the SPP. I wonder if they will ask for their money back?
https://au.finance.yahoo.com/news/au...222812694.html
I note WBC's share price is back to where it was 10 years ago.
big cleanout today. They do seem to be taking the issues raised seriously
Or am I being naive.
But seriously, does anyone think this will affect profitability in the medium term.
Hard to slow down a juggernaut
A lot more shares on issue will affect ratios.
Could see all the extra capital raised paying a fine.
It will be an incredible fine running into billions.
Then WBC will need to come back for more capital,which will lead to more shares being issued ,and ratios again being affected.
Note WBC's [nz] share price is lower today than it was 10 years ago.
Take care.
ABC"s comment:
https://www.abc.net.au/news/2019-11-...tions/11738642
I take your point, percy, but confess that I'm tempted. Remember Westpac's lending crisis of the late 80's/early 90's when they were forced into a heavily discounted rights issue? Fortunes were made then...…….
There was a $16 cap raise in 2009 during GFC