Ranking the best capital raising plays

It has been a good 12 months playing the capital raisings in Australia and the gross profits above $200 have unfolded as follows on a monthly basis:

January: broke even
February: broke even
March: $10,170 profit
April: $36,996 profit
May: $31,639 profit
June: $86,600 profit
July: $28,293 profit
August: $12,758 profit
September: $32,229 profit
October: $8901 profit
November: $16,800 profit
December: $2200 loss
January 2010: $2350 profit

Gross paper profits since February 2009: $262,834


Here are the rankings from best to worst:

June 9 - Bluescope Steel: bought 48,387 at $1.55 in entitlement offer, sold 3,000 at $2.52, 3000 at $2.51, 2000 at $2.66, 4000 at $2.48, 2000 at $2.58, 5000 at $2.29, 16,129 at $2.50, 4000 at $2.67, 5000 at $2.50 and 4480 at $2.89 for crystallised profits of $47,800. About $13,000 went to financiers or other shareholders we financed.

April 7 - Fairfax Media: bought 83,333 at 75c in entitlement offer through two accounts and sold for average $1.08 to make $27,500 but about $8000 went to various financiers and under-writers.

June 18 - Stockland: bought 33,398 at $2.70 in entitlement offer, sold 3000 at $3.07, 10,407 at $3.01, 5000 at $2.81 and 14,991 at $3.13 so overall gross profit $11,332.

July 27 - Macarthur Coal: bought 7500 shares at $6 each for $45,000 through 3 different $15,000 SPP offers. Sold 1000 at $7.464, 2500 at $7.36, 2575 at $7.355 and 1490 at $7.66 for gross profit of $10,826.

September 17 - Goodman Group: bought 50,000 shares at 40c through two entitlements and sold for 58c to make a profit of $9000.

September 2- Australand: bought 100,000 at 40c in entitlement offer and sold at 48c for a gross profit of $8000.

May 14 - Onesteel: bought 20,000 shares at $1.80 in entitlement offer and sold for average $2.20 generating a profit of $8000.


May 8 - Peet: bought 22,000 at $1.10 through entitlement offer, sold 7,000 at $1.42 and 15,000 at $1.43 for profit of $7190.

June 5 - Horizon Oil: bought 100,000 at 10c in share purchase plan and sold 100,352 at 17c for $7000 profit.

November 3 - Elders: $40,000 into two $20,000 SPP entitlements at 15c and received the lot. Exited at 17.5c for gain of $6700.

May 6 - Avexa: bought 261,000 at 7c through entitlement offer and sold 261,000 at 9.4c for profit of $6264.

April 22 - Ceramic Fuel Cells: bought 500,000 at 5c in entitlement offer, sold 200,000 at 6.3c, 47,704 at 6.1c and 240,000 at 6.2c for profit of $6150.

November 2 - AWB: $40,000 into two entitlements to 1-for-1 offer at $1 with extras. Scaled back to $30,000 and exited at $1.20 for profit of $6000.

June 5 - Macquarie Group: bought 564 at $26.60 in share purchase plan and sold 554 at $37.20 for profit of $5978.

June 17 - Santos: bought 2675 shares at $12.50 in entitlement offer and sold for $14.10 for profit of $4280.

March 24 - Suncorp: bought 2200 at $4.50 in entitlement offer and sold 2200 at $6.30 for profit of $3960.

May 7 - Crane Group: bought 2000 at $7.50 through two marginally scaled back share purchase plans and sold for average $9.35 to make $3700.

August 21 - Asciano: bought 9543 shares after 65% scale back of three $10,000 offers at $1.10 and exited for profit of $3626.

May 19 - AXA Asia Pacific Holdings: bought 3,508 at $2.85 in share purchase plan and sold 3,508 at $3.84 for profit of $3472.

July 27 - Karoon Gas: bought 746 at $6.70 in $5000 SPP and sold 800 at $11.16 for SPP profit of $3327.


July 13 - ANZ: bought 2074 ANZ at $14.40 through two SPPs and sold 1037 at $15.80 and another 1037 at $16.10 so overall profit $3214.

March 6 - Wesfarmers: bought 1000 at $13.50 through entitlement offer after applying for $200,000 worth and then sold 506 at $16.80 and 500 at $16.72 for a profit of $3160.

September 16 - Bendigo & Adelaide Bank: bought 2000 shares at $6.75 through two cracks at entitlement offer and sold for average $8.29 to make a profit of $3083.

July 7 - Automotive Holdings: bought 12,500 at $1.20 in share purchase plan and sold 12,500 at $1.44 for profit of $3000.

April 16 - IBA Health: bought 36,200 at 55c in entitlement offer and sold 36,200 at 63c for profit of $2896.

June 12 - Adelaide Brighton: bought 5600 at $1.78 in share purchase plans and sold 2,881 at $2.25 and 2800 at $2.33 for profit of $2894.

June 22 - Billabong: bought 4000 shares at $7.50 in entitlement offer and sold 4000 at $8.20 for gross profit $2800.

September 29 - Spotless: $15,000 into SPP at $2.16. No scale back and sold at $2.54 for a gross profit of $2642.

October 7 - Cougar Energy: applied for $20,000 into two $15,000 SPP entitlements at 8.25c but was scaled by 35% and then exited at 9.9c to make a profit of $2600.

November 12 - Capral: applied for $20,000 in entitlement offer at 2.5c and exited 141,000 shares at 4.3c to make a profit of $2500.

August 31 - National Australia Bank: bought 394 shares at $21.50 through scaled back SPP and sold for $28 to make a profit of $2500.

September 18 - Energy and Minerals Australia: applied for $15,000 SPP at 21c but scaled back to $4084 worth of shares which were sold at average 25.7c for a profit of$914.Also received 19,450 free options which were sold for 7.2c to raise $1400 so total profit $2314.

September 8 - Whitehaven Coal: bought 4934 at $3.05 in $15,000 SPP and sold for $3.45 to make a profit of $1976.

August 6 - Cockatoo Coal: bought into $15,000 SPP at 33c and sold 45,500 shares at 37.1c to make profit of $1865.

October 16 - Isoft: $15,000 into SPP at 77c and then exited at 86c for profit of $1755.

January 5, 2010 - Avexa: $15,000 into SPP at 14c which was scaled back to $12,000. Exited at 16c for gain of $1700.

June 16 - Bunnings Warehouse Property Trust: bought 13,333 at $1.50 in entitlement offer and sold 13,000 at $1.629 for profit of $1677.

July 6 - White Energy Company: bought 2333 at $1.50 in share purchase plan and sold 2618 at $2.19 for a profit of $1609.

November 19 - Praemium Investors: $20,000 into two 1-for-10 entitlement offers at 15c with overs. Exited at average 16.25c for gain of $1600.

June 17 - Seek: applied for $5000 SPP at $2.60 but scaled back to 1030 shares. Sold for $4.11 so profit of $1555.

May 1 - Diversified United Investments: bought 5000 at $2 in share purchase plan and sold 5000 at $2.30 for $1500 profit.

August 14 - Roc Oil: bought 21,000 at 71c in SPP and sold for 77c to make profit of $1440.

October 12 - Healthscope: bought 3667 at $4.19 in $15,000 SPP. Exited at $4.59 to make a profit of $1431.

March 23 - Newcrest Mining: bought 198 at $27 through share purchase plan and sold 198 at $34.20 for profit of $1425.

August 14 - Innamincka Petroleum: bought 71,000 at 20c in SPP and sold for 22c for a profit of $1420.

October 21 - Real Estate Capital Partners: $15,000 into SPP at 14.92c. 15% scale back and exited at 16.5c for gain of $1360.

September 9 - Intermoco: bought 666,666 at 1.5c in SPP and sold for 1.7c to make profit of $1333.

October 16 - Industrea: $15,000 into SPP at 40.92c and then exited at 44.5c for a profit of $1285.

July 8 - Ausenco: $45,000 into three $15,000 SPPs at $3.20 but scaled back to $6000 and made profit of about $1200.

May 22 - Fletcher Building: bought 1226 at $4.15 in scaled back share purchase plan and sold 1266 at $5.09 for profit of $1152.

December 15 - St Barbara Mines: $15,000 into 3-for-14 entitlement offer at 27c and got the lot. Exited at 29c for gain of $1100.

August 6 - GME Resources: applied for $3000 at 5c and sold all 60,000 at average 6.8c to make a profit of $1080.

September 22 - Sedgman: $10,000 into $10,000 SPP at $1.30 but scaled back to 2693 shares worth $3500 and exited at $1.695 for profit of
$1063.

June 5 - Aristocrat Leisure: bought 3077 at $3.25 in share purchase plan and sold 3,087 at $3.69 for profit of $1046.

September 14 - Structural System: applied for $15,000 SPP at 78c. Scaled back to $11,600 and exited at 85c to make $1040.

July 10 - Mirvac: applied for $10,000 through entitlement offer at $1 and sold for $1.10 to make a profit of $1000.

September 21 - Hills Industries: $5000 into SPP at $1.40 but scaled back by 50% to 1786 shares. Exited at $1.94 for gain of $964.

February 3, 2010 Contango Microcap: $15,000 into SPP at 87c and exited at 92.5c for a gain of $900.

March 13 - Commonwealth Property Office Fund: bought 6,250 at 80c in unit purchase plan and sold 6,565 at 94c for profit of $875.

July 1 - Lincoln Minerals: bought 125,00 shares worth $10,000 at 8c in entitlement and sold 50,000 at 8.9c, 50,000 at 8.6c and 25,000 at 8.5c for a profit of $875.

September 21 - Amcor: $25,000 into two entitlement offers at $4.30 but scaled back to 656 shares costing $2820. Exited at $5.56 for profit of $826.

July 20 - Fantastic Holdings: bought 2173 through $5000 SPP at $2.30 and sold for average $2.681 to make $828 profit.

July 10 - Graincorp: applied for $15,000 SPP at $6.25, scaled back to $7600 and exited for $6.90 to make a profit of $790.

October 26 - Amadeus Energy: $5000 into $5000 SPP at 25c and exited at 30c for gain of $770.

May 28 - STW Communications: bought 10,869 in entitlement offer at 46c and sold 11,000 at 52.6c for profit of $717.

March 16 - Tabcorp: bought 1724 at $5.80 through two share purchase plan offers and sold 1724 at $6.24 for profit of $750.

July 28 - Austen Engineering: bought 3448 at $1.45 in $5000 SPP and sold 3458 at $1.65 for profit of $690.

July 21 - Atlas Iron: applied for $5000 SPP at $1.39, scaled back to 1600 shares which were sold at $1.81 to make a profit of $672.

January 7, 2010: Commonwealth Office: $10,000 into SPP at 91c and exited at 97c for gain of $650.

September 22 - Bank of Queensland: $8000 into entitlement offer at $10 with no scale back. Exited at $10.81 for profit of $648.

May 20 - Ramelius Resources: bought 9433 shares at 53c in share purchase plan and sold 8900 at 58c for profit of $471.

December 13 - AMCIL: put $10,000 into $15,000 SPP at 64c and exited at 67c for a gain of $450.

April 27 - Northern Iron: bought 5000 at $1 in share purchase plan and sold 4,600 at $1.15 for profit of $450.


May 28 - Dexus Property Group: bought 6,154 in entitlement offer at 65c and sold 6,400 at 72c for profit of $430.

October 23 - Watpac: $30,000 into three $15,000 SPPs at $1.25 but scaled back to 2110 shares. Exited for profit of $400.

August 6 - Northern Energy: $5000 into $10,000 SPP at 35c and sold 14,200 shares at 37.8c to make a profit of $397.

September 29 - Skilled Engineering: $15,000 into SPP at $1.50 but scaled back to 666 shares worth $1000 and sold at $2.05 for a profit of $366.

August 10 - Macquarie Leisure: put $45,000 into three SPP entitlements at $1.10 a share. Scaled back to just 1305 shares worth $1435, but exited these at an average $1.41 for a gain of $340.

October 23 - FEA: $10,000 into 1-for-1 offer at 7.5c with no scale back of extras. Exited for $300 profit.

November 19 - Kathmandu: $30,000 into two applications for flying blind float priced at $1.70 and scaled back to 12,940 shares costing $22,000. Exited at $1.73 for gain of $300.

November 3 - Boart Longyear: $30,000 into two $15,000 SPPs at 27c. Scaled back to $19,500 and exited at 27.5c to make $300.

July 15 - Eastern Corporation: spent $2100 in entitlement offer at 24c and sold for 27c to make profit of $262.

May 23 - Mineral Deposits: bought 16,129 at 62c in share purchase plan and sold 16,219 at 63.5c for profit of $243.

October 9 - Folkestone: $7,200 into 2-for-1 entitlement offer at 15c. Got the lot and exited at 15.5c to make profit of $240.

June 1 - Sky City Casino: bought 1700 in scaled back share purchase plan at $2.03 and sold 1,500 at $2.17 for profit of $238.

October 8 - Ramsay Healthcare: exited three heavily scaled back $15,000 SPP offers at $9.835 for average $10.52 to make profit of $200.


Substantial losses for 2009 in capital raising plays

December 3 - BBI: $15,000 into SPP at $5.08 and exited at $4 to lose $3200.

December 21 - QRXPharm: $11,000 into entitlement offer at 80c and exited at 76c to lose $550.

November 6 - Myer: exited 1701 at $3.78 for loss of about $500.

* We've also got this chronological version of the list which includes all the upcoming offers we're considering taking up.