Thats not 9% of the 49% on offer. That 9% of the total shares.
Which is 18.3% of the actual part being sold off going to the public pool.
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Another unhappy Direct Broking client here, after reading the posts on here, thought I'd check to see if I had a firm allocation from them, last email from them gave me a reference and said they would send documentation
when it arrived, discover no I don't have an allocation, it's not so much missing out that is annoying, but the fact they don't even tell you.
If I had been told we would have applied for more for my husband through the public pool.
......MY STORY. ANZ client. Applied on line about 2weeks ago giving an indicative uptake/request for 25000 shares. Never heard a thing back........still waiting. Rang them Tuesday just gone (4 days ago).......they said it's in the post.........just checked .......nope, still not here. Rang them again just now.........."apparantly" NZ Post dont really deliver big parcels during the week??!!!..........so I should get it tomorrow!! Can you believe this.......what a load of bulldust, I smell a big rat and Im left wondering they're maybe up to tricks by delaying this to somehow satisfy their BIG traders first, once they've established a good demand is there??
I have no troubles with Direct Broking at all applied 3 days before the cut off for $55k received $52k worth of Genesis shares. The booklet and forms was sent promptly. Good work Direct Broking!
Yup , that is the issue HS. The DB site invited you to register interest with a click. You received confirmation and a ref number by email. All looked good.
If it were not for the chatter here you'd be cheerfully sending in a chq and applic form for $50k or whatever you applied for and would not have known they had nothing to give you other than what was available from the public pool. The banner is still current on the site.
Nowhere did DB say you must call us. What, they couldn't send an email to clients telling them that they needed to call? They claim they shared their allotment as "fairly" as they could. BS, it's an old boy network and it stinks particularly given that they knew interest would be very keen..
Its actually worse than that psychic. Must stress that we are with ANZ but believe it is same as DB anyway. Like you said the email gave a reference number linking back to the online application from their website, but then clearly state that you should action your application as soon as possible and all application need to be received by 10 April. We mailed our application immediately to no avail. Very poor service.
I was told that an expression of interest was an indication of your interest level but not a fiurm allocation or commitment on either party. one needed to then ring and request a firm allocation once the investment statement had been registered sometime last week. and that allocations went to people who had done this up until they had none left? Public pool me thinks..... a couple of applications for me, you, you and me and bobs your uncle hopefully.
Interesting EBITDAF comparison of major NZ Power companies - published on the IFT investor day.
Go to https://www.nzx.com/files/attachments/192074.pdf and check out slide 4.
Obviously Trustpower is top (otherwise they wouldn't have showed the comparison), but more interesting is how the other generators feature - Genesis is long term trailing the pack!