I sold all IFL at $3.42 at loss last week, purchased NAB. IMHO with MLC divestment NAB is now better positioned while IFL has diluted shareholders and acquired an headache going forward for them in way of MLC.
Expect NAB may track up faster and IFL at-least in short term may track down below $2.90 level. Retail portion will be hugely under-subscribed, Underwriter may have to dump huge unexpected acquisition they end up with from this. Let us see how this unfolds in next few weeks.
IFL Price at posting:
$3.14 Sentiment: Sell Disclosure: Not Held
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