Yep Rowmelb. Last day for DRP is 3rd dec so watch for bounce on the 4th Dec.
I believe its not just the underwritters selling the shares on market but also the large institutions that have subscribed to the DRP. Basically the price of the DRP is set by the 1st 15 trading days after ex-dividend date.
With 660 million shares subscibing to the plan these Inst. basically drip feed a portion of thier WBC portfolio on to the market. This drives the price down. Once the DRP price has been set hopefully they will rebalance there portfolios which should drive the price back up.
Should see a major bounce come Thursday over even late Wednesday when the short term traders jump on board.
drps, page-3
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Last
$31.81 |
Change
0.210(0.66%) |
Mkt cap ! $109.4B | |||
| Open | High | Low | Value | Volume |
| $31.45 | $31.88 | $31.41 | $114.6M | 3.615M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 4790 | $31.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $31.83 | 3444 | 2 |
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| Last trade - 16.10pm 03/09/2024 (20 minute delay) ? |
| WBC (ASX) Chart |