Ann: Macquarie Group Limited Share Purchase Plan, page-8

I think the offer will be heavily oversubscribed as you only had to watch the Institutions attack their institutional allocation like a pack of hungry Piranhas. That and the fact their was no underwriter put in place tells you the retail offer is going to be heavily oversubscribed as well.

Personally I dont think it was wise move to sell $30K's worth of stock thinking you are going to get anywhere near your full maximum allowable allocation. The fact that there is no sliding scale-back taking into account eligible shareholders current holdings to the SPP will mean a lot of smaller holders are going to apply for the full amount as well. As a speculative guess I think people going for the full amount will be lucky to get $5000 worth and it maybe be scaled back to even half of that figure. Its just my take on it and I could be proven completely wrong. I have applied for the full amount in both our personal accounts and SMSF. Time will tell if the much smaller retail offer is as popular as the much bigger Institutional offer that was quickly snapped up.