Post by
deisman03 on Jan 24, 2023 11:07pm
How to buy Public Offering
Ok, how does one purchase a Public Offering or is it easier to just purchase the units from our regular broker?
The release is a bit confusing for me at this point of coming down from Chemo.
Is the offering closed by 9am on Jan 25th/23 or is it open until Jan 31/23?
I bought a Public Offering through Scotiabank apx 20 years ago and it went through a slightly different process.
Any info would be appreciated.
GLTA the good folks here
Comment by
gossamer18 on Jan 25, 2023 12:43am
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Comment by
navgod on Jan 25, 2023 5:38am
9 times out of 10 it is cheaper to purchase in the open market plus you can buy the individual pieces instead of units. The offering closes by 9am today.
Comment by
flamingogold on Jan 25, 2023 9:07am
Looking for that trend to continue. My bid under $10 is in. And, market is looking blood red on top.
Comment by
HermannHaller on Jan 25, 2023 9:45am
I was hoping to get it under $10, but demand looks too strong. There were obviously a lot of people waiting for this deal to buy. I paid $10.03 Good luck.
Comment by
TheeRook on Jan 25, 2023 4:43pm
Buying now you get the dividends for this month. Public offering buyers get their shares in FEB. The offering is expected to close on or about January 31, 2023 and is subject to certain closing conditions including approval by the TSX.
Comment by
navgod on Jan 26, 2023 9:18am
If the offering closes on Jan 31 as scheduled you get your shares in Jan. this is a settlement date not a trade date!
Comment by
deisman03 on Jan 25, 2023 12:48pm
Thanx NavGod. I just picked some up at $13.60 Tried to get in a few cents cheaper, but lots of people were in before I was and I couldn't get filled. Maybe I should have waited for a couple of days??? Time will tell all GLTA the good folks here.
Comment by
EdPaquette on Jan 25, 2023 1:54pm
Should likely be able to buy this for $13 within a week.
Comment by
flamingogold on Jan 25, 2023 3:26pm
For anyone interested in buying preferreds, LBS prefs are getting a nice raise. Not much change here though.
Comment by
Sunnyboy on Jan 25, 2023 3:52pm
BK preferred, after the latest interest increase, will now yield 8%.
Comment by
flamingogold on Jan 25, 2023 5:59pm
BK prefs are already trading at the current distribution rate whereas LBS prefs are still at 5.6% and set to go to 8%
Comment by
Sunnyboy on Jan 26, 2023 9:01am
You indicated that there was not much change in the yield for the BK preferred shares. From May 22 to now it went up from 5% to 8%. An increase of 60%. I would call that a substantial change?
Comment by
EdPaquette on Jan 26, 2023 9:49am
According to quadravest documents, the highest the prf can go is 8% even if prime rises.
Comment by
Sunnyboy on Jan 26, 2023 9:53am
Correct. At this point the max is 8%yield for the preferred.
Comment by
flamingogold on Jan 26, 2023 9:52am
True... but my point is that BK prefs have already closed that gap. LBS prefs just got bumped to 8% but still trading as if it was 5.6% so it could repeat what BK did.
Comment by
navgod on Jan 26, 2023 3:13pm
Two points: 1) I think I made these same points several RE:s ago and 2) I sold my out today at an average of $9.91- there are other prefs I now find more attractive. GLTA
Comment by
Eoj123 on Jan 26, 2023 5:23pm
Like FFN.PR which is currently paying 8% plus a 3% capital gains when or before the fund terminates/renews in just under 2 years
Comment by
deisman03 on Jan 25, 2023 5:37pm
Ouch Ed. I hope for your sake that you're right. I'm thinking with the nice distribution there should be a 25 cent pop from here and if I play my game right, I should be able to sell and maybe collect the distribution at that price, then pick them up lower after ex dis day or wait for the rate hike backlash to purchase again. GLTA the good folks here.