Pending Qantas announcement halt trading on ASX

[serfty]

Until Thursday, QF share trading has been suspended pending an announcement...

The ASX has asked Qantas if they are aware of anything that may have caused the drop in share price during the past couple of days and if so, can an announcement can be made immediately. Qantas said 'Yes' to the question, but no announcement will be forthcoming before Thursday.

http://www.asx.com.au/asxpdf/20090203/pdf/31fw5v2tjqwng9.pdf
http://www.asx.com.au/asxpdf/20090203/pdf/31fw5wkp2x4xrq.pdf

 

[drron]

Profit downgrade?Certainly no upgrades for QF.

 

[Nigelinoz]

I wonder whether " pending an announcement in relation to capital management initiatives" is market speak for a merger ?

 

[simongr]

You would have to think it was given that if it was changes to the financing of leased assets - that shouldnt cause a market price shift.

It could be a share buy back given the low price of shares...

 

[serfty]

FT posts on this topic postulate Qantas may be after some more cash ...

 

[zzyss]

Might it have something to do with their failed attempt with British Airways?
Tinyurl: bf7x3w

(Still under the restrictions for posting URL's as a n00b with < 10 posts...)

 

[serfty]

Might it have something to do with their failed attempt with British Airways?
Tinyurl: bf7x3w

(Still under the restrictions for posting URL's as a n00b with < 10 posts...)

www.tinyurl.com/bf7x3w

 

[Nigelinoz]

I believe that following the collapse of the merger talks with BA before christmas there was rumours about discussions between QF and MH,maybe that's something to think about,may also explain why MH kept their fuel surcharges so high for so long,getting a bit of money in to use as a bargaining tool?

 

[oz_mark]

FT posts on this topic postulate Qantas may be after some more cash ...

Reuters seem to think so:

Qantas Airways Ltd (QAN.AX), Australia's top airline, called a halt to trading in its shares pending an announcement on a major capital management plan, amid talk it was going to raise between A$450 million and A$1 billion

UPDATE 1-Australia's Westfield, Qantas raising equity | Industries | Financial Services & Real Estate | Reuters

 

[JohnK]

I thought it was illegal to knowingly manipulate the share price....

 

[Dee Thom]

It has to be a capital raising bid thru sale of shares. IPL did in Nov'08, NAB did in Dec'08, and WES are doing it this month. If you don't take up any offers, your current shares will dilute in value.
Cheers Dee

 

[Nigelinoz]

If they are looking for equity would there be anything to prevent them
making a bid for a substantial part of either BA or MH?or maybe,unlikely,I know,even SQ?

 

[oz_mark]

The Australian reports a $500 million placement. I guess the info leaked.

Qantas to raise $500m via placement | The Australian

 

[dajop]

If you don't take up any offers, your current shares will dilute in value.

And if you do your current holding of shares miraculously maintain their value????

 

[Chicken or Beef]

Hmmm, have a feeling it has something to do with IB.

 

[medhead]

It has to be a capital raising bid thru sale of shares. IPL did in Nov'08, NAB did in Dec'08, and WES are doing it this month. If you don't take up any offers, your current shares will dilute in value.
Cheers Dee

plus a few more companies than just those listed. Also this is wes second raising. QAN supposedly had heaps of cash for the BA deal. So this is quiet a surprise that there need cash now even for a MH deal. This raises many questions with a few negative possibilities.

 

[ANstar]

Hmmm, have a feeling it has something to do with IB.

Joyce said yesterday they werent in merger talks with anyone.

 

[Nigelinoz]

Joyce said yesterday they werent in merger talks with anyone.

Well he would say that wouldn't he,he wouldn't want to let the cat out of the bag in case it all went a**e up.

 

[ANstar]

Well he would say that wouldn't he,he wouldn't want to let the cat out of the bag in case it all went a**e up.

Surely make a public statement that they are not in any merger disucssions if they were id talks would be against some corporate rule would it not?

UPDATE 2-Qantas says open to merger opportunities in Asia | Industries | Industrials, Materials & Utilities | Reuters

We are always looking at opportunities in Asia and the region," Joyce said at a meeting of the 'oneworld' airline alliance in Madrid.
"We are not actively involved in dialogue with anybody at this stage," the CEO said.

 

[medhead]

Surely make a public statement that they are not in any merger disucssions if they were id talks would be against some corporate rule would it not?

UPDATE 2-Qantas says open to merger opportunities in Asia | Industries | Industrials, Materials & Utilities | Reuters

Yes, of course. It would be misleading the market.