Happy with that - I've got 70c in my spreadsheet so always nice to increase numbers
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Happy with that - I've got 70c in my spreadsheet so always nice to increase numbers
ANZ Group looks at splitting its bank and non-bank businesses into two listed securities.
https://www.interest.co.nz/banking/1...shayne-elliott
I could be wrong, but I think that linked article says the opposite. In my reading of that link, it looks like the reorganised ANZ will stay as one listed security. The umbrella listed company would be new, in that it would no longer be a bank. But it would contain one subsidiary as 'the old fashioned bank we know and don't love', while the other subsidiary is free to pursue fintech opportunities, out of the eye of the banking regulatory authorities.
SNOOPY
"'the old fashioned bank we know and don't love',"
has brought a wonder load of profitable trading along with the bunch of slick london SPIV's over at WBC...
Oh yes, I think you’re right there, whoops:
“Australia's ANZ Group, parent of ANZ New Zealand, announced the plans, to establish distinct bank and non-bank subsidiaries under a share market listed parent holding company”
That actually makes much more sense!
One of the few in the green among a sea of red today .. :)
might see some down side coming? oh its here already and if these take another hit its becoming a very cheap stock.
US bank earning next few weeks.
buckle up people US bank earnings coming out soon and it could get ugly.
ANZ in talks with some old none QC accounting provider .... bad as buying Xero... unless someone has got a new fully distributed secure app platform.. and none of those old things are anything but old big database in the cloud solution... ancient duuuuummmm stuff....:t_down:
Sell off continues really "Emphasise" the economic mood of the south pacific..
or is the sell off also driven by the US earning season to come...
steady selling...
1.3x NTA. Thats pretty good
well hopefully share holders are happy with the offer price.
no over subscription on this one.
NO MYOB deal but suncorp up 6% today
what effect could a recession have on the price of this deal.
either way its a big deal...
Bank mergers in AUS up next?
US banks surging it look all green for this sector ...
Four months ago they announced the completion of a buyback in which they bought back A$1.5 billion worth of shares at A$27.70 average. Seems stupid.
a world ago ....all new world and market... until the next global crisis..
ANZ might need to put some money into sun corps tech stack?
expected lower SP when trading restarts from commentator's
going to be interesting to see if they can keep up the DIV in the next 2 years.
I can't even see the dots let alone connect them.
The regional banks have old tech stacks that mean NTA could be lower if CAP EX goes up a lot after mergers and take overs...
They can capitalise some of it though. The DIV's for aussi banks and NZ banks could come under pressure depending on capital ratio requirements.
In NZ that means T1 at some stage goes to a HUGE 16%. At least that the story before the virus hit and it was delayed.
That doesnt include the pressure from the like of the NZ prudential board to cover TD's with an extra layer of insurance schemes.
All of which means DIV's come under the spot light.
ANZ would be looking to release capital from NZ but that might not happen if the RBNZ goes though with its new T1 ranges.
Profits to the parents in AUS would come under more pressure with NZ banks being required to hold more capital in reserve.
Waltzing I’m pretty sure ALL the banks run old tech lol. That’s my experience anyway
This is why these new fintechs on the block are so interesting..
fintechs would be interesting if they were not linked to a math formula...
at least with flowers you put them on the table or in the window or you can compete at flower shows or sell them after youve grown them.
dont forget weddings need flowers..
good things flowers...one of god's best wonders ..:eek2:
fintech often uses block chain which sometime uses something called by buffet as akin to some dutch
flowers...bitcoin and blockchain are interleaved with each other.
the great tulip crash ...https://www.bloomberg.com/news/artic...eet%20Thursday.
https://en.wikipedia.org/wiki/Bitcoin
https://www.finextra.com/blogposting...ces-blockchain
out testing carbon fibre at high ratings today with heart rates at about 140 which is sub anaerobic and smoking is bad for your health...please dont smoke. one of NZ's retired Olympic coaches invited us out on the water to show off some new tech...
rather own flowers than bit coin at the moment...
https://www.cnbc.com/2022/07/17/how-...investors.html
No take out offer for HGH yet ?
Or is that yet to be considered ? :)
Quality of Suncorp book is stated by ANZ as worth the higher P/E paid.
Doubtful in the light the economic outlook for the next 2 years.
one has to hope that trade between china and Aus holds steady and china does not do a hard landing and that is very unlikely.
Banking sector profits are influenced by global market pressures.
Banks will be scrambling to create new technology platforms without going down the nightmare road to block chain and crypto.
Buying at the peak? Right before the big recession crash?
Maybe the guru ANZ bankers at the top level know something we don’t. Maybe no recession like everyone is talking about
Since when have bankers at the top been Guru's. If you read the prize award winning papers from the likes of the prudential board advisors like Helen Dervan you would think the sky's about to fall all the time any time.
US travel is booming but air lines shares are in the doldrums. The investing public believes in the recession and so do the pro's.
mind you those advisors like Dervan were always a bit MY Optic with no sense of fun as i recall.
Very serious legal intellectuals.
I guess ANZ had no choice. Organic growth just isnt going to cut it. Had to buy a book. Probably look back in 10 years and think what an amazing move.
Worked well when ANZ bought then merged National Bank. ANZ biggest bank in NZ
Much prefer Rawz's optimistic investing outlook then the Serious case of seriousness that Dervan suffers from.
The summary of the last report from Dervan did nothing after pages and pages of warnings to offer any economic research into optimal structures for capital and prudential structures for NZ banking and the RBNZ and the GOVNT plus the AUS/NZ law society accepted it as a tablet from GOD.
It was nothing but intellectual self congratulatory grand standing.
In terms of restricting business lending and growth it was Down right Dangerous stuff from Dervan and co.
QLD the hot spot ... literally insurance must be on fire up in that state with global warming?
Growth must be levelling off there soon?
Aus facing some huge challenges in agri land management in the face of global warming.
- Acquisition to be funded by a fully underwritten 1 for 15 pro rata accelerated renounceable entitlement offer to raise ~$3.5b of ordinary equity and by existing capital
https://www.sharetrader.co.nz/blob:h...6-4b23c7ecfc90
• New ANZ shares issued under the entitlement offer will rank equally with existing ANZ shares from the date of issue including future dividends
Thoughts as to what this will do to ANZ NZX listed share price? Another one of those situations where current shareholders are basically forced to cough up more money rather than see their shares diluted and devalue.
If it weren't such a large dominant bank then SP might retrace to SP offer as with many share placement offer in other companies to date. However being a bank which is using the funds to acquire Suncorp maybe investors will actually see it as desirable and in turn SP may not follow general decline to share placement offer after a Cap Raise.
Those who hold large % of banks in their portfolios keen to hear your opinions...
An observation from a poster on hotcopper
Bank A is raising capital at 0.9x book value and P/E of 9.5x
...in order to acquire....
Bank B at 1.3x book value and 13.8x P/E.
Discl: hold
good stock to trade going forward.
buy and sell it..hold? not so much..
and hopefully they back any tech other then ...
https://www.cnbc.com/2022/07/18/cryp...n-one-day.html
and they are off racing in the suncorp derby and the stakes could not be higher as they leap out of the stalls on a rain soaked heavy track .....
Ive got a few ANZ and wanted to top up a few months back but been buying too many HMY. I think there will be a good entry point later in the day on the ASX and then add in the 1 for 15 rights to average down the purchase a little. I'm happy long term with that result
I'll probably take up my rights. Mind you, that's not many.
I have some ANZ.NZX through Sharesies ... wonder if purchase rights will be available?
and ANZ enters the back straight well positioned in the pack but CBA well in the lead...
and ANZ moving up the pack on the back straight after dropping back entering the back straight bend...
:eek2:
If NZ resident ANZ shareholders let their ANZ 1:15 rights lapse and ANZ remit to them a premium for the lapsed rights they sell on their behalf, will that premium become a taxable dividend as far as NZ is concerned? ANZ are relying on NZX listing exemptions and they are not getting approval from any NZ authorities. That would certainly stink big time as ANZ is the biggest bank operating in NZ.
There are many situations where Australian company issues and distributions have tax implications for NZ residents that are vastly different from the tax implications for Australian residents. The NZ definition of a "dividend" for tax purposes may differ. In addition, in some situations Australian residents have capital gains tax implications, which NZ residents do not.
The info on the implications of the issue is already online. They have only published info on Australian tax consequences despite the issue being available for both Australian and NZ residents. Australian rulings have been obtained.
https://retailentitlementoffer.anz.com/offer/
So spend hundreds consulting an accountant. Probably cheaper just to declare it as income.
My original question concerned the situation where the NZ resident shareholder lets the rights lapse and ANZ sells those rights on behalf of shareholders. ANZ then distributes any premium obtained to shareholders. Are you saying that distribution, without ANZ getting NZ court approval, is not a taxable dividend in the hands of NZ resident ANZ shareholders?
Dividends are in specie (e.g. DRiP or demerger) or cash distributions to a shareholder from a company . Distributions may be subject to NZ income tax. Disclaimer: As far as I understand. DYOR.
A rights issue is the way that shareholders contribute capital to a company. It is a capital transaction where you as a shareholder give money to the company to allow ANZ (in this instance) to expand its capital base. It is you as a shareholder giving money to the ANZ, - not the other way around.
The markets may price this 'right', a capital asset to have value, if someone is prepared to pay more than the rights issue execution price. If so, you may sell this 'right', which is I repeat an asset, to another player in the market. In this particular situation, ANZ has offered to act as an intermediary, forwarding on any 'premium obtained' that a third market player was willing to pay for your 'right'. This 'premium money' has not come from ANZ. It has come from the third party market player that bought your rights,
If you are still not convinced, think of it this way. If you had taken up your rights, it would have been you that was giving new capital to the ANZ directly. Are you seriously suggesting that if you contribute new operating capital to a company that you should pay tax on your own capital contribution? I don't disagree with anything you have written in the post I am replying to. But the money you get from selling your rights rather than executing them is not a cash distribution from ANZ. It is cash being paid for an asset (in this case your 'right') on behalf of someone else (the third party that bought your rights).
SNOOPY
More posts like this Snoopy!
Thanks Snoopy. Your post is logical.
I checked the IRD site and the 2013 Taxation Act amended the definition of a dividend. The amendment specifically excluded the premium paid from a book build process for the reason you explained.
https://www.taxtechnical.ird.govt.nz...end-definition
Premiums paid under bookbuild arrangements
I've taken up my rights. Seemed a reasonable deal at $20.81
Current have shares on the NZX, option to buy on ASX or NZX. Are there any pros or cons one way or other? Thanks.
Unless you love to complicate your tax returns I'd suggest you just add them to your current NZX - listed shares.
I hold my ANZ shares on the ASX and will add them there.
The right were trading at :
2. Selling or transferring their entitlements• Retail entitlements worth approximately $53 million were traded on the ASX between Thursday, 21 July 2022 and Monday, 8 August 2022, at prices between $2.43 and $4.10. The volume weighted average price for the retail entitlements traded during this period was $3.75.
The US cant cover all deposits...
the fed has to chose inflation or stability of employment....
the next rate calls are going to be very interesting.
RBNZ has been drawing pictures of money trees for a while now and will they continue to keep there T1,2,3 capitals ratios where they are or try to increase them when GDP has stalled?
With Citizens share price rise after they got a bargain apparently says the market. Will that kick bank prices up or is this the new normal until inflation slows and the market crosses to the other side in 24 months time.
The T Bill in the us are 4 Percent and the bank deposits is lower and therefore why would you want to keep your money at the bank?
More bank failures to come in the US is the commentary this evening on CNBC.
Is africa the testing ground for new transaction platforms and when will it come to the south pacific..
are the banks here now going to become just a trade.
ANZ now in a range 22 to 27 with the SUNCORP deal now behind them which of the south pacific banks will be a buy.
Bet HGH is looking at stuff like this.
https://www.cnbc.com/2023/03/26/bitc...ng-system.html
Gunloch on CNBC says europe cant fight inflation and keep the banks in one piece.
He see funds fleeing to the 4 month T and that means the FED will have to confront the reality on the block.
ANZ profit down by 1%. Will that mollify those who complain that the big Aussie banks are profit gouging from poor Kiwis?
http://nzx-prod-s7fsd7f98s.s3-websit...960/393748.pdf
US Banks rallying 17 P in the last month...
Sun corp is cleared could we see plus 30 handle ...