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Interesting exchange of views today with the usual interference from Ballydehob - I keep waiting for a pearl but alas only steam appears. Have just finished enjoying the Masters so it's off to the blankets for me - another beautiful day here and large crowds on the front spending money - maybe they all think that Brexit is not going to happen or they just don't care. Good luck all.
.. i will wait after april 28 for more updated information from BOI.. no sense arguing what has not taken place..
.. according to Irish Times the 25% goes for 3 billion.. that make the total initial valuation at 12 billion.. https://www.irishtimes.com/business/financial-services/government-expected-to-decide-on-aib-flotation-after-french-vote-1.3032659?mode=amp
25% of AIB is expected to trade for 2billion approx not the 3billion being mentioned
BOI. is undervalued.. there is not a substantial difference in AIB or BOI as banks regarding quality or performance.. they are about wqual.. where does the 12 billion valuation come from for AIB.? is the asset quality and performance for AIB so much superior to BOI .. ? read the full financials for each and compare.. dont rely on newspapers or short broker summaries.. april 28 shareholders meeting is just around.. i still have boi and do not plan to sell for now.. have had boi since 2011 .. when it was considered a risky stock .. at about the same time Ross purchased.. the turnaround of BOI has been significant.. should continue. .
With almost 1300 posts on BKIR you need to clear with your posts aclaw, less knowledgeable people looking in here for a bit of info might be misled by what you are saying on 2 counts at least. 1. you are putting way too much faith in the AIB valuation. They are gearing up for a sale so brokers, the bank and the government are naturally talking up their asset. There isn't a hope in hell that BKIR will jump 80 or 100% after the AIB sale. 2.. State clearly where you see the information that the government is up for buying 10% more BKIR shares. I have no information that will happen. In fact it would be a crazy idea considering stated government policy. Are you sure you are not looking at resolution 5 and reading between the lines rather than actually reading the lines?
.. the 28th of april is just around the corner.. read the boi investor relations.. don't depend on the newspapers for the summary..
I'll tell you where.... Nowhere
Where does it say the gov will be increasing
The goverment will be selling not buying more. Where are you getting this information from? Nonsense
.. well read the fine print at investor relation for boi and try to read in between the lines.. obviously you will have to wait until april 28 .. i knew a long time ago a reverse split would happen.. the extra 10% purchase by the govt is something unusual.. may you can figure that one out with your own mental clarity.. go ahead .. post something smart..
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You obviously went to the same school (mental institution) as deadcat
.. after the reverse stock split there will be 1billion shares vs. 32 billion.. the govt would own about 250 million shares out of the 1 billion shares.. if boi reached market par value with AIB this stock could be worth in a range of 12 - 14 € share.. add a dividend and the price will hold.. at the moment the valuation for boi is already 8 billion €.. or 8 € share. almost a total 1 € above the 7.05€ mentioned in these articles.. if boi reached par with aib the total valuation of boi would be 12 billion or 12 € share.. much higher than the 7.05 € share.. leamyk was right.. hold on to this stock
enourmous profits will be made in a short time with this maneuver .. total boi market value is 7.8 billion €.. AIB is being valued at 12 billion €.. BOI and AIB are about equal comparatively.. the govt goes back to owning 24% of BOI with this purchase back .. 10% and could sell this 24% stake for 3 billion € .. same as the AIB sale.. they could raise 6 billion € from the sale of the 25% stake in BOI and AIB in a few short months.. what has caused this situation is the shorting of BOI last year from .37 level to .16 level.. massive shorting.. the govt has probably realized what has happened and protecting their own interests.. highly unusual for the govt wanting to suddenly increase their share another 10% .. sonething is going.. april 28 is just around the corner..
". the govt owns 14%.. but with this talk of buying 10% by the govt.. they would own 24%... some large. fund may be trying to unload and may have made a deal to unload this 10%.. at a mkt value no higher than 5% price.. so the 7.05€ is probably low.. i would imagine news of a dividend at this meeting also.." ???????? What? Its not April 1st today so you'll have to explain this please.
... catching up the recent news.. there is talk of the reverse stock split 30:1.. with a new stock price valuation of $7.05 / share.. not mentioned is a resolution #7 filed by BOI which calls for the bank to purchase up to 10%.. or 3.2 billion shares.. this would bring total stock to a 30 billion level vs the 33. billion level .. at 30 to 1 that would leave 1 billion shares.... ........if the mkt now has a valuation of almost 8 billion the share price would be more like 8€ share.. if BOI were valued similar to AIB at 12 billion.. then the shares of BOI would be worth 12 €. each.. there is still substantial gain to be found for BOI when compared to AIB.... .. the govt owns 14%.. but with this talk of buying 10% by the govt.. they would own 24%... some large. fund may be trying to unload and may have made a deal to unload this 10%.. at a mkt value no higher than 5% price.. so the 7.05€ is probably low.. i would imagine news of a dividend at this meeting also.. https://www.google.com.pr/amp/s/www.irishtimes.com/business/financial-services/bank-of-ireland-to-shrink-number-of-shares-by-97-1.3032164%3Fmode%3Damp
For a while we shall feel like the holder who sells all to buy a few shares in Buffets outfit, or google, or Amazon! If we can get a 12 month lift to 15€ or so, plus a dividend there'll be a few more millionaires about. I think the Dow is headed for 25k before the bull is satiated. There'll be ups and downs along the way.
To PGee, JmC, PatMcG and Hotdog, Thank you for the answer to my question, it is appreciated. GLA
"It gets rid of the penny share day traders who have played havoc with the volatility of the sp of BKIR." I quote Pat. I think of us can agree here on this point.....the penny share status has shoveled this share from pillar to post by the trader pond feed cowboys. The share split I agree will see a more institutionalised focus on buyers of the BOI. Let's see but a move that we have talked and talked about for ages but now is reality. All I can see is good out of this share split.
According to the documents issued by BOI, and I quote, “fractional entitlements in BOIG plc Shares will be rounded up to the nearest whole BOIG plc share, such that any Scheme Stockholder with a fractional entitlement shall be allocated and issued with one BOIG plc Share, credited as fully paid, in respect of the fractional entitlement.” So, don’t worry, you will lose nothing and may actually gain a little. To those unfamiliar with the notion of a reverse split or consolidation, if it’s 1 for 30, then divide the number of shares you have by 30 and the result is the number of new shares you will be issued with, plus an extra share for any fraction. This should not result in any loss of value as if BKIR was worth say 0.25 Euros, then the value of each share should rise by 3000% to say 7.50 Euros. The total value of your share holding should remain the same. The advantage is it’s no longer a penny share, is easier to administer in terms of coast, and it gets rid of the penny share day traders who have played havoc with the volatility of the sp of BKIR. This in turn will make it more attractive to large institutions, especially if they intend issuing a dividend in 2018. It may also help sell off their UK loan book which, with the fall of the pound sterling, has hit the Euro value of BKIR very hard. Institutions in the UK Sterling area may be interested in buying it. It's all good. PatMc
As far as I know if you have any shares left that can't make 1 new share that amount of old shares are sold for you and the money returned to your broker.
Well you could buy 20 or sell 10, but the most cost effective route would be, do nothing!
Hi Pgee, John Mc, What happens when you have a number of shares that isn't directly divisible by 30? say 41,650? Thanks.