Henry77,
QBE doesn't need the $100m. With the $A falling and now being well under the 90c mark, profits from the overseas operations (80% of total) are well and truly flowing in.
As for the raising, they stated they could have raised double the amount from the insto's. They have only given retail shareholders the option to buy to appease any issues with ASIC.
In the end, QBE is looking after everyone's interests. You all may say that the retail base has not been looked after, well the top 20 insto's own 82% so they probably deserve the lion share.
More importantly:
Let's not rip apart a very well company that has held up in this turmoil.
Yes, I'm disappointed with the scale back, but I'm just glad its up not down.
cheers
P
spp scaled back, page-12
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Last
$18.25 |
Change
-0.220(1.19%) |
Mkt cap ! $27.47B | |||
| Open | High | Low | Value | Volume |
| $18.50 | $18.62 | $18.17 | $68.72M | 3.752M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8800 | $18.24 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.28 | 466 | 1 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| QBE (ASX) Chart |