WBC westpac banking corporation

Ann: Westpac announces $3.5 billion off-market share buy-back, page-866

  1. 966 Posts.
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    I pretty much did the same as Grajem12 above, although I'm still in accumulation mode, and have put them all up for sale at the Buy-back price and hoping that I won't be scaled back. Trying to pick the discount seemed a bit of a crap shoot to me and in the end we all get bought back at the same price so I was more concerned with full participation than trying to protect against too much of a discount.

    I had a parcel of qualifying shares in my SMSF with a average price of $20.71 - I bought their replacements a couple of weeks ago @$20.44 so at these prices, participating via the SMSF I will have nominally more cash in the account at the end of the financial year with the franking credits and a capital loss to offset other capital gains in the account.

    As I play around with the calculator I think I'll be around $0.60 a share better off at the full 10% discount and > $3.50 better off at 0%, assuming a $22.30 VWAP so it seems like a good thing to do. Maybe all the stars have aligned for me, but hopefully there are plenty of shareholders that it makes sense for - so we get the full $3.5 Bn bought back and my remaining shares (same number as 4/11 at a lower cost base) get the benefits of the reduction in SOI.

    As for on-market buybacks, love em, great idea but often hard to execute. GMA a good example, announced $100 M buyback on the 8th of December running through until May, so far have bought back less than $2.5 M. Might be easier on a mega-market cap like WBC.
 
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Last
$34.63
Change
0.320(0.93%)
Mkt cap ! $118.4B
Open High Low Value Volume
$34.30 $34.76 $34.26 $183.0M 5.295M

Buyers (Bids)

No. Vol. Price($)
5 18451 $34.63
 

Sellers (Offers)

Price($) Vol. No.
$34.70 44000 1
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