I applied for the full allocation through Commsec.
So they took $15 000 out to cover the purchase.
Allocations were scaled back so I only received 202 shares.
In round figures I was due a $10 000 refund.
I thought that it would go straight back to Commsec but no it arrives as $10 000 cash into my bank account.
Effectively I have been lent $10 000 at 7.35% (margin loan rate). Thanks Commsec.
spp - a strange thing happened
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