June 24, 2009
Charter Hall: applied for $23,200 worth of shares at 33c in entitlement offer but scaled back to virtually nothing because billionaire John Gandel scooped up the entire retail shortfall. See announcement.
Virgin Australia, 2013: All investors limited to 40% of their entitlement which lead to a $51m shortfall that went to foreign airline under-writers. Seethis piece in Crikey.
Challenger Diversified Property Group: retail investors were limited to overs equivalent to 50% of their entitlement, UBS was the under-writer and controlling shareholder Challenger Financial Services was able to lift its controlling stake to 46% at a discount courtesy of an $8 million shortfall.
Australand, 2009: overs were limited to a maximum of $40,000 or 1 times a shareholders' entitlement.
Copyright © 2020 The Mayne Report. All rights reserved