Hardly dumping stock, 3 million of 1 billion went through today and I find it hard to believe that Frank and the crew would sound out the insto's knowing full well the implications involved.
Why do you think they are raising money? It's not for the NAU purchase, thats coming from cash and short term borrowings, its more likely that QBE have their eye on something else and the raising may give an indication of what size it might be.
QBE know that the US$ will rise soon and their cheap window of opportunity will close, but the flip side is when US interest rates head up, everyone will be back on QBE.
Quality rises, it just needs some more time.
P
QBE Price at posting:
$21.20 Sentiment: None Disclosure: Held
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