NAB 0.46% $37.41 national australia bank limited

NAB SPP, page-48

  1. 150 Posts.
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    In 2009, ANZ had 178000 retail shareholders (40%) apply for the spp. The bank accepted all applications and issued $2.2billion of equity....in addition to the $2.5billion institution placement. The original figure was for only $350 million to retail , and anything more was subject to scale back...but they took everything they received...$2.2billion which is a similar amount allocated to institutions.
    So NAB might accept a lot more than $500mill from retail applications. $3billion is allocated to institutions.
    If 40% of the 570000 retail shareholders apply for on average $15k, = $3.4 billion which is a similar amount allocated to institutions.....not all applications will be for the $30k.
    Last month's cochlear spp amount for retail shareholders was increased by x4.
    NAB scaled back their 2009 spp but they may accept a whole lot more this time in my opinion.
 
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