Hi Adam, I just reread your post here, it was actually an offer of $50M on the SPP and they ended up accepting $170M over!
"The SPP has received strong support and accordingly Cochlear has decided to increase
the SPP offer size by $170 million to $220 million"
I am wondering about this in the context of RHC, BAP and NAB. It will be a stretch to put the max in for each of these with our current cash situation. As you pointed out BAP is about right sized for the retail holders, but NAB is severely under. Retail holders apparently account for 48% of NAB stock and the NAB SPP is only $500M vs $3B for the placement. What are your thoughts on how they could adjust the size, in the case of ANZ they offered 350M or so and took almost 2.7B in the GFC. Is there a possibility RHC may even take multiples of the $200M offered?
Feeling a bit disappointed after the AIA SPP and would have taken many times what was offered at FLT. It is a pity all of those extra retail offers went to the underwriters.
Hi Adam, I just reread your post here, it was actually an offer...
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