The market is still not fully baking in the 5% shares NAB is...

The market is still not fully baking in the 5% shares NAB is likely to buy when the NAB Auto Loans powered by Plenti is launched. That tranche would be raised between 75c and 90c, based on 25% premium to 1 month VWAP, which is still above 66c, meaning would be above 82c if launched today. Assuming NAB has been the buyer on all the off market crossings since Nov 23, it is indicating with these above last traded crossings that it wants to have bought its max 5% allocation on market before the next formal chance to buy more. Plenty of savvy buyers starting to queue up, but they could just as easily buy up to 72c, allowing the full 25% premium to VWAP to take next NAB tranche to 90c over a 1 month VWAP period. DYOR.