20,000 applicants at $5k means $100m on 4th march Today alone there were 1,800 trades for 2,000 or less QGC. There were 2,600 trades all up of which 2,000 were for 4,000 QGC or less.
The QGC SPP is open for around 20 market days since first announced. Most days have mostly small trades. Suppose each day there are 1,000 SPP applicants buying. If each of these 20,000 applicants applies for $5,000 that will be $100M in cheques turning up at the offices of QGC by March 4th. But QGC only seek $2.5M. I can’t imagine oversubscriptions of forty times ($97.5M) being accepted.
Does any one have the word on the approach to be applied? Equal scale back for all? Pro-rata according to the number of QGC held? Or perhaps early closure?
QGC
queensland gas company limited
20,000 applicants at $5k means $100m on 4th march Today alone...
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