Seems like the market has forgotten that NAB is very likely to take up it's entitlement to an additional 5% holding via a placement that occurs within two months of the autoloan announcement on 13th June at a price that is 25% premium of the 1 month VWAP on that date. From my approximate calcs, that would have been a VWAP of over 70c on the day of, meaning the placement would be not much below 90c.
Keep an eye out in the next month and a half for an announcement of this placement to NAB at close to 90c, because according to the details of last year's announcement, the placement needs to happen within two months of the autoloan announcement. DYOR.
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