Ann: NAB launches capital raising, page-5

Nope I seen this coming weeks ago.
I don’t think they are asking for enough IMO.
I would’ve probably gone for $5bil @ $14.
I’m expecting SP to go below $14 anyway this has probably made it a more likely reality. I still see the 3 banks bottoming around $13, with a chance of hitting lows around $12’s.
Now with nasty effects of dilution this will probably take a long time to recover.
But while this may seem the worst time to be owning a bank, it could be a good time to be buying.
The smaller banks like BEN, BOQ, ING, BankWest, and so on will probably find it a lot harder to survive and a few may collapse. The big banks with deeper pockets, if they survive will probably thrive on the other side, so keep that in mind. If the market contracts it doesn’t mean all business operate insolvent for a year or two, it means the bad go broke, the survivors grab more of the market share and rally hard on the other side of this.