Good one percy. Looking a bit like a gift horse with a tigers tail:).
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Good one percy. Looking a bit like a gift horse with a tigers tail:).
It is crap that the retail investors do not know the scaling of the Institutional Offer. The insto's know the scaling of the retail offer & the insto offer. Can this really be a "fully informed market"? Anyone know if this is legal as per NZX rules or can MEL get away with it under the prospectus. I would love to know what the insto's applied for.
Have just asked my broker that question surf. "no we are trying to find that out now". Will let you know if i get the facts ( before anyone else)
http://www.reuters.com/article/2013/...0ID1OP20131023
reuters article quite bullish, suggesting sold cheap to appease public after MRP. Good ausi insto demand. Pick $1.11 open.
..........got it on line! Scaled back by 10% thru ANZ.......happy with that.
I bought retail and have no scaling...but I did apply for less than Percy.
Well I reckon this soe sale process has turned into an unmitigated disaster. I didn't get any mrp or mer in the hope of staging.
Mrp now down to $2.15, that's a fail for shareholders.
$1.50 on instalment is a joke for the tax payer. Spin reckoned over 150,000 buyers. Only 66,000 turned up to play. That doesn't bode well for stags
Good luck to those who got their allotment for a long term hold. I reckon you would have been better off waiting for the market to settle before buying.