Member Info for gruntie

Sunsurfer, IAG is listed both on the FTSE and IBEX35. The shares you bought on the FTSE will remain in GBP, and the 2 prices just mirror each other.. having checked the IAG shares on IBEX, they closed at EUR 1.77, which when pumped into Google gives you roughly £1.58 which was near enough the close for IAG on the FTSE yesterday.

IAG is a Madrid registered company (but has its HQ in London), hence why the rights issue was done in EUR.

Theres a few big companies that are traded on two exchanges, Shell being another on the FTSE and Dutch exchange for example.

George , what's your thinking for a 500p SP? Sure the high before Covid at the start of the year was only £7 ish and thats before the RI and new shares going into circulation. Theres no way IAG is the money making machine it was of previous years by then to give it a similar market cap as to the start of the year. Whilst I agree there'll be pent up demand (I flew to Dubai with BA in business 5 weeks ago, and the cabin was near full, despite people needing a PCR test before travel), I think fares will need to be competitive to entice people quickly.

I'm a long term holder, having taken part in the RI (so obviously want 500p) but I just cant see it..

David, I think it only makes a great deal of sense when we've had a day like today. Only 2 or 3 weeks ago, I was reading blogs saying the same thing only for the SP to crash to a smidge over £7 and people were complaining on the blog asking why the share was recommended etc. However, having bought in on Monday (for the first time in FSJ) and seen the rises over the last 2 days, I dont really mind what these blogs say - I tend to buy anything and everything when theres a sharp enough drop, knowing in most cases there will be a modest gain fairly quickly. (covid vaccine news has obviously fired a rocket up the rear end of that idea this week - thankfully).

I've been having problems with AJBell all day. My entire portfolio isnt showing any gains or losses since markets opened. So glad its not just me.

I also have the equivalent of a years ISA, and then some, invested in IAG so its annoying not getting the correct info from AJB, but I don't have the swingers on me to stick my entire portfolio on just 1 stock. I also have holdings in EZJ, TUI, CCL etc, to at least try and spread my risk, whilst still seeing the rewards of travel based stocks rise as they have done over the last few days.

BillyBoy, I'm also dealing with AJBell and sent them a message yesterday as mine was coming to 92.4p They have responded to advise;

"We do build in a 10% buffer to manage our own risk levels, and then decide the FX rate at the latest possible time - so you will have some of this cash returned to you. "

Newbie, You're only liable for tax in your dealing account if your material gain (after selling the shares) exceeds the Capital Gains Allowance which is £12.3k for 20/21. If you're not locking in lots of gains constantly, you could sell IAG shares shortly before April 5th (upto a £12.3k profit) and re-buy in your ISA come Apr 6th allowing any future gain or dividends to be tax free. You could then sell more in the 21/22 Tax year for Captial Gains purposes again. Obviously the price come April 2021 might make your 15,000 new shares worth more than the £20k ISA subascription, so you might not get all of them in there.

I was faced with the same issue, however after speaking with AJBell (who I trade through), they've advised that despite my current IAG shares being in my ISA, I can buy the new shares via my usual trading account.

Whilst this isnt ideal and not within the ISA wrapper so wouldn't be tax free on any gains, I'm eligible to buy just over 9500 new shares, which is around £8.2k, I figured its unlikely IAG share price will have doubled before the start of April '21, so any "gains" will fall under my Capital Gains Allowance for this year and I will sell a few days before the end of the tax year and re-buy within my ISA come April 6th when my allowance renews.. with the only loss being some trading fees, a bit of stamp duty and whatever the difference in SP is between me selling and re-buying. (I'm holding this long term so want any potential upside to be tax free within my ISAs)