Thanks couta1, will look into it.
Anyone have any idea on when I will receive confirmation of the number of shares I have been allocated? Will I need to wait until the allotment date?
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Thanks couta1, will look into it.
Anyone have any idea on when I will receive confirmation of the number of shares I have been allocated? Will I need to wait until the allotment date?
There is internal scaling and external scaling. Brokers have been allocated shares and they can allocate them as they see fit - ASB are saying they are 50% scaled. The allocation they get can now be scaled by 20%.
DB appears to have taken a different approach and only allocated those that it has, not needing to scale internally so they are only subject to the external 20 scaling.
Gidday
I rang them and asked how many shares they allocated to me. I had a firm order with them.
Cheers
Yes it has caused me a lot of frustration, you spend a lot of time researching these IPO,s so you can make a purchase of shares to the qty your analysis says is appropriate.
( For my style of investing I need a minimum amount of shares to make it worthwhile cause im sacraficing other opportunities for the investment )
So I have to weigh up. is knowing a definite quantity of shares I can purchase from an existing investment better than hoping I can get a required qty of shares in an IPO
Broker Firm Offer:
New*Zealand
Applicants who
are offered a firm
allocation by an NZX
Firm or a selected
trading bank
The minimum
Application
amount is
$1,000. Your
broker will
inform you
of your firm
allocation.
It will be a matter for the NZX Firm or selected
trading bank to decide how they make allocations
amongst their eligible retail clients and whether your
Application will be scaled back.
If the Crown exercises its right to scale back Broker
Firm Offer allocations following the close of the
General Offer, retail client Applications under
the Broker Firm Offer will be scaled back at the
Crown’s discretion. There is no minimum guaranteed
allocation under the Broker Firm Offer. Accordingly,
final individual allocations under the Broker Firm
Offer may be lower than the minimum Application
amount of $1,000.