Bellebuit, Over 71 mill turnover which is a bit much to be parcels of 500-200=300 shares?
Just a great show of confidence imo.
I dont know the ASX etc rules when it comes to such placements and perhaps NAB cant accept more than the 700m placement... I am just a novice trader but surely there could be a Plan B in place for such over subscriptions... We have made our committment and the funds are in place so why not have a choice to stay committed... Something like a backup plan to allow over subscription to be used for a purchase or an ipo. A purchase like Challenger mortgages has occurred and our committment could remain in place to expediate a float... Do banks have floats? Can they put in place such backup plans effectively and in short time? Would shareholders go for it? I think its effecient and aggressive instead of a disappointing, nothing new, rejection. Just a laymans thoughts though.
NAB Price at posting:
$26.89 Sentiment: ST Buy Disclosure: Held
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