QR National retail share offer closes
The take up by retail investors, private investors, has been significantly less than was hoped and that means that the onus is now on the institutions to make up the difference. Read article.
Roger Montgomery is the Founder and Chairman of Montgomery Investment Management. Roger has over three decades of experience in funds management and related activities, including equities analysis, equity and derivatives strategy, trading and stockbroking. Prior to establishing Montgomery, Roger held positions at Ord Minnett Jardine Fleming, BT (Australia) Limited and Merrill Lynch.
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Greg Mc
:
For your average PE and div yeild investor this one looked richly priced, even if they didn’t bother to look further at whether the business was any good or not. All the same, I wonder how much of a part the Montgomery Factor™ played in the eventual retail take up given that most of the big brokers were tied into the float. Somehow I don’t think the QLD gummint is going to send you a Christmas card this year, Roger.
Roger Montgomery
:
No I don’t think that the QLD government will. And there’s a bunch of other groups who probably won’t be either. Had it been priced at a big discount to intrinsic value (a la MACA) the message from me would have been entirely different.