Companies which allowed major holder or director to lift stake in capital raising

December 15, 2014

This list tracks capital raisings which have allowed major shareholders or directors to increase their percentage stake.

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.