I do have some BOQPE hybrid securities as a way to earn a return while I am thinking about what's next.
BOQ shares directly have been dropping for quite a while.
They may be close to a bottom but profit downgrades don't help a share price.
I decided not to in the end as I figured they might drop lower anyway... and I am too heavily weighted in financials (and it's been a terrible year for them, they're dragging down my whole portfolio).BOQ SPP offer closes December 20.
Any thoughts? Price could be better than the recent Westpac offer:
You think Bendigo will make a play for them at some point?BOQ has gone poorly and may be a takeover target.
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Shares issued at $7.27. Sold today for $7.37. Not the best stag I've ever had, but I've taken it.BOQ SPP update:
'UPDATE IN RELATION TO SHARE PURCHASE PLAN Monday, 23 December 2019, Brisbane: Bank of Queensland Limited (BOQ) provides the following update in relation to the Share Purchase Plan (SPP) following the closing of the SPP at 5:00pm (Sydney time) on Friday, 20 December 2019. The SPP was announced by BOQ on 25 November 2019 in conjunction with BOQ’s fully underwritten $250 million institutional placement. The SPP was extremely well supported with BOQ having received applications for approximately $90 million from shareholders, which remain subject to final reconciliation and clearing of payments. The issue price per new fully paid ordinary share (Share) under the SPP will be $7.27 per Share, which represents a 2% discount to the VWAP1 of BOQ shares traded on ASX between 16 December 2019 and 20 December 2019 (inclusive). As a result of the strong support for the SPP received from shareholders, BOQ has decided to accept all valid applications from Eligible Shareholders2 in full with no scale back to be applied. Accordingly, BOQ expects to raise approximately $90 million under the SPP, with the final amount and number of shares to be issued expected to be announced on or around 30 December 2019, once the reconciliation process is complete. BOQ expects the Shares to be issued on Thursday, 2 January 2020 and to commence trading on ASX on Friday, 3 January 2020.'
I'm in for a quick stag on this.
My friend's husband started buying CSL shares at $6 and continued to buy them until he sadly passed away. But she has been left her VERY comfortable.Now thinking if buying some CSL. But fear I may have missed the boat.
Received the SPP email today, and may buy some extra as the minimum is quite low.I have just bid for shares in Bendigo Bank at the issue price of $9.34 which is 9% under their trading price on Friday after allowing for a dividend.