Shares

Companies which have notched up accumulated losses exceeding $100m

This early stages list tracks existing listed companies which have notched up accumulated losses exceeding $100 million, plus notable accumulated losses by companies which have a history of releasing their results on the last day possible.

Nov. 6, 2022

Chronological list of post Covid-19 capital raisings

Here is a reverse chronological list (based on retail closing date) of capital raisings above $20m announced after the Covid-19 crisis hit in March 2020. If we've missed any, drop us a line to stephen@maynereport.com.

Nov. 15, 2022

Examples of non-renounceable deals with unlimited overs

This list tracks companies which offered retail shareholders unlimited overs in a non-renounceable deal.

Aug. 31, 2022

Best practice capital raising outcome announcements

Here is a list of best practice announcements by companies at the end of capital raisings in terms of disclosing information about retail shareholder participation rates.

Nov. 6, 2022

Non-renounceable offers where overs were completely banned

This list tracks the bad boy issuers which did non-renounceable entitlement offer raising more than $20m where retail investors were banned from applying for additional shares, leaving the shortfall exclusively for under-writers.

Jul. 20, 2022

Companies which pre-limited "overs" on pro-rata raisings

This list tracks the small number of companies which limited the amount of additional shares or "overs" that retail shareholders could apply for in a non-renounceable issue, before seeing how big the shortfall actually was.

Aug. 31, 2022

Tracking the outcomes of PAITREOs

This list tracks what has happened when companies raised capital by way of a PAITREO. It's a renounceable structure and the most important point is whether non-participating institutional or retail shareholders receive the bigger compensation payment from separate bookbuilds. At the moment retail have 15 wins, instos 20 and there have been 5 draws. Here is the detail.

Nov. 6, 2022

Companies which uncapped SPPs after strong demand

This list tracks companies which announced a cap on the overall size of an SPP and then lifted it to ensure there was no scale back. Also, check out this list of companies which stuck rigidly to their SPP cap, plus this list of those which partially lifted the cap but still imposed a scale back.

May. 3, 2022

SPPs priced on VWAP at a discount to earlier placement

This list looks at Share Purchase Plans (SPPs) which offered a VWAP pricing alternative that delivered a final price lower than what institutions paid in the earlier placement.

Nov. 15, 2022

Tracking off-market buybacks in Australia

This list tracks the outcomes of off-market buybacks in the Australian market.

Nov. 12, 2022

Shame file: stand alone placements with no SPP

The following list tracks companies which shamefully did stand alone institutional placements over the past 20 years years that weren't accompanied by a Share Purchase Plan for retail investors. If we've missed any, please email the details to stephen@maynereport.com.

Oct. 3, 2022

Companies which lifted capped SPPs but still rejected applications

This list tracks SPP where the issuer mentioned a cap in the offer document but then expanded it after strong demand but still imposed a scale back.

Feb. 12, 2022

History of Macquarie capital raisings and principle investments

This list looks at the history of Macquarie Group capital raisings since it floated in 1996. All up the bank has done 7 placement-SPP offers raising $8.44 billion comprising $5.39 billion from placements and $3.053 billion or 36% from SPPs

Aug. 1, 2022

Companies which refused to expand capped SPPs

This list tracks companies which refused to lift capped SPPs. Also, check out this list of companies which partially lifted caps but still imposed a scale back, along with this list of those which accepted all applications and imposed no cap.

Oct. 30, 2021

Retail voter turn out rates on schemes

This list looks at retail shareholder turn out rates on takeovers which are delivered by a scheme of arrangement. These requires 75% of votes in favour and 50% of shareholders who choose to vote.

Nov. 12, 2022

SPPs above $100m in the Australian market

This list tracks the biggest share purchase plans for retail investors conducted by ASX listed companies above $100 million.

Feb. 12, 2022

Largest SPP scale backs by dollar size

This list tracks the biggest SPP scale backs above $5 million ranked by dollars size with a further list of undisclosed dollar scale backs below that.

May. 9, 2022

Biggest institutional placements in Australian market

This list tracks the biggest institutional placements by ASX listed companies.

Nov. 12, 2022

Companies which launched an SPP without a cap

This list tracks companies which launched an uncapped SPP without identifying how much it wished to raise.

Sep. 23, 2022

Where the SPP matched or was larger than the placement

This list tracks companies which launched a stand alone SPP (excluding LICs) or where the SPP ended up matching or raising more funds than the earlier placement.

Jul. 20, 2022

Companies which scaled back SPPs based on size of application

Here is a list of some of the companies which have scaled back SPPs based on the size of a shareholder's application.

May. 12, 2021

Overs and SPP scale-backs where everyone given minimum allocation

This list tracks companies which scaled back retail applications in SPPs and non-renounceable entitlement offers with an ability to apply for extra shares using a formula which included a minimum allocation to all applicants and pro rata after that. It starts with SPPs and then lists entitlement offer examples.

Jan. 2, 2021

Update announcements during retail capital raisings

Companies providing an update on applications before a retail capital raising offer has closed has been a new phenomenon in 2020. Here is list of those who've done it after a request from this website.

not published

Campaigning for better retail treatment in capital raisings

Here are links to various activities over the years advocating for better treatment of retail investors in capital raisings.

Apr. 24, 2020

The SPP shame file since 2007

Companies since the beginning of 2007 which did cosy placements with big institutions but then treated shareholders differently.

Apr. 14, 2022

How two-tiered capital raising hurt retail investors

This list tracks the contrasting experience of investors when a renounceble entitlement offer has two separate bookbuilds to deal with the shortfall.

Feb. 27, 2014

Placements with entitlement offers where no SPP offered

The following list tracks companies which did institutional placements over the past few years that diluted retail investors who are now owed a share purchase plan to make good the injustice.

May. 7, 2020

Cancelled and postponed dividend payments during COVID

A chronology of the listed company announcements which either cancelled or post-poned dividends were declared in February 2020 as the pandemic first hit.

Mar. 29, 2022

Tracking retail take-up rates in pro-rata offers

The following lists tracks retail take up rates in pro-rata capital raising offers.

May. 1, 2020

Companies which left the door open in capital raisings

The following list tracks companies which announce capital raisings but then leave the door open for new shareholders to buy in by having a later record date. The issue was explored in the October 5 email edition.

Dec. 31, 2018

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

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

Dec. 15, 2014

Takeovers we've accepted since 2005

Here is an incomplete list of takeover bids we've accepted or been forced to accept since we started building the world's biggest small share portfolio in 2005. Go here for the full portfolio and trading histories sliced and diced in a variety of interesting ways. We'll add the recent takeover details some time soonish. Maybe.

Jan. 6, 2014

Shares retained in collapsed companies

Here is a list of public companies that I've had the unfortunate experience of being on the share register when they've collapsed or gone into administration.

Jan. 6, 2014

Directors who have sold shares to avoid margin loans

Here is a list of publically known and suspected margin calls suffered by directors of public companies and public companies themselves during the great credit crunch of 2007-08. We're also including the growing number of executives doing voluntary sell-downs so pay down margin loans.

Jan. 20, 2017