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111 posts

Master Geek


#255784 29-Aug-2019 16:51
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Hello all


I have been offered (actually all current share holders) to purchase up to $15,000 worth of AMP shares at lower of A$1.60 or 2.5% discount off average current price (A$1.65).


The way I see it:


A$15,000 @ $1.60 = 9375 shares.


Then sell off @ $1.65 to make A$468.




Anything wrong with my logic?


Is it worth the risk?


Would the share be trading around 1.65 after listing of new share placement?







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11112 posts

Uber Geek

  #2308251 30-Aug-2019 09:09
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Well the one year chart doesn't look too hopeful, but OTOH based on the price yesterday, you make 7 cents not 5, less brokerage.


Who knows?  If every shareholder does what you might (expecting to stag a quick profit) then what happens to the price?


29266 posts

Uber Geek

Biddle Corp
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  #2308255 30-Aug-2019 09:20
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It's just about guaranteed the share price will drop more with a rights issue.

With the volitility in shares right now thinking you could just make a few hundred dollars quickly is flawed logic. I've sold down a lot of my shares and seeing ups and downs of up to 10-20c each day of some of the others.

If you're willing to gamble you might make it back. I wouldn't be trying such a ploy with AMP though.


4875 posts

Uber Geek

  #2308261 30-Aug-2019 09:36
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I wouldn't do this for such a small amount of cash. 


You could lose money. 


111 posts

Master Geek


  #2308262 30-Aug-2019 09:37
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Thanks for replies. 


I shall NOT subscribe to the offer.

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