I am not saying that they should have allocated all the shares - just that they should have had the foresight to have predicted the possibility of massive over-subscription and planned the SPP accordingly (which meant being upfront about the scale back policy).
The 2009 SPP had a 5K cap. Perhaps they raised it to 15K so that they could make more out of the millions held.
87,000 shareholders applied. If the average application was around 11K, QBE will have been sitting on 1 billion dollars - interest free.
a call to arms re spp, page-4
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Last
$18.25 |
Change
-0.220(1.19%) |
Mkt cap ! $27.47B | |||
| Open | High | Low | Value | Volume |
| $18.50 | $18.62 | $18.17 | $68.72M | 3.752M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8800 | $18.24 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.28 | 466 | 1 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| QBE (ASX) Chart |