more than two times oversubscribed ...
Bugger - they asked for $20m and ended up with more than $62m. Whoever applied for $15k worth of shares will end up with 3308 shares worth $4829.56 ... and the rest reimbursed in cash.
I don't enjoy having been right (estimating that I get roughly $5k worth of shares ...)
Quote:
The SPP received very strong shareholder support, with Heartland receiving
applications totalling $62,117,500, exceeding the offer size of $20,000,000
by $42,117,500 or 211%. In accordance with the terms of the SPP, Heartland
will scale back all applications on a proportionate basis by reference to the
size of each application. For example, this means that a shareholder who
applied for $15,000 of shares will receive $4,829.56 of shares after scaling,
which is equal to 3,308 shares at the issue price (rounded up to the nearest
whole number of shares).
https://www.anzsecurities.co.nz/Dire...spx?id=4385363