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that reason why I am asking you @whatamess is, your repeated argument sounds like people are very scared of travelling first is due to virus , second is due to quarantine .
Now everyone knows virus is not going away and we need to move on. Hopefully this is a positive step.
not trying to convince you, but I feel like your argument is kind of entirely based on 'virus' which is now accepted truth.
from CNBC.. @whatamess whats your view on this!
Next month, the U.S. will get a glimpse of what traveling during the pandemic could look like in the coming months when United Airlines starts offering rapid Covid-19 tests to its Hawaii-bound passengers in San Francisco, the first major U.S. airline to make the tests available to travelers.
The 15-minute nasal swab tests will be conducted at the international terminal at SFO starting Oct. 15. That’s when Hawaii will start allowing travelers who have had a negative Covid-19 test within the last 72 hours to bypass a two-week quarantine requirement. Travelers will also be able to take an at-home test by Color. Passengers would pay for the tests.
The tests could be used as a blueprint for opening up international travel, where a web of restrictions has devastated demand for those once-lucrative routes. Airlines this week urged governments around the world to consider widespread testing before flights instead of blanket travel bans. —Leslie Josephs
@Annikins, I am interested to know little more depth of your view. Do you think covid is the only factor making IAG to go to wall. I am invested heavily in IAG so my view might be optimistic. but I am curious to know little depth in -ve comments rather than over-generalised messages.
1) I personally don't know much about impact of Brexit (not relationship between EU-GB..etc but IAG being spanish compay and UK is forcing BA to comeout of group ...etc). But that man made problem might wait until we sort out covid i think because covid is now universal problem.
2) Do you really think two advanced countries (GB depends on trade & financial services , Spain depends heavily on tourism) will let their national flag carriers to go bankrupt.
3) now most of restrictions will be here to stay for sometime. so don't you think govt will slowly progress to start airport testing..etc. I know they are currently not actively involved in it to discourage travel but don't you think they will start ground work on it?
i appreciate everyone is coming forward to express their views. but it's frustrating to see feel just post generic -ve comments without expressing supporting logic. I don't agree with @whatamess , but atleast I admire his attempt to come up with supporting opinions..etc
ofcourse it's a public forum and we are all anonymous and we can write whatever we want. But this forum really helped me to understand more about rights issue than the generic internet articles.
Is it just people who take short positions and spread -ve views here ?
Sorry, I meant
'when I sell these rights in open market now (IAGN symbol)? who is buying those?' I can sell them in my Iweb but when I try to buy then i am seeing 'We no longer allow investment in this stock'.
@4tothefloor,
I am wondering who will buy these ? other investors who are eligible for rights but want more than they are entitled to ? or are the big guys like pension funds or goldman sachs (conducting this rights issue i think)?
2) Shares from the rights issue that were not purchased by other Investors
@4tothefloor,
I am wondering who will buy these ? other investors who are eligible for rights but want more than they are entitled to ? or are the big guys like pension funds or goldman sachs (conducting this rights issue i think)?
@BlueBaron,
thanks for your reply. But I am worried about a scenario of 'Rights failed to exercise as real shares' . I don't know what is probability of this'.
I have another option of moving my rights out of ISA to 'normal share dealing account'. but as you know those will be liable for tax. I am happy to do this rather than actually materializing my paper loss.
Apologies again for silly question, but I am new at this rights issue and worried about worst case scenario. not sure how much broker (iweb trading in this case) is obliged fulfil this rights to share conversion. small mistake on their side will result in huge loss for me. I would rather move those rights to normal account and pay tax and wait on original shares in ISA for long term to reach my buying price.
Hi Guys,
Apologies for repeating related question. But I am looking for some urgent help. Appreciate your help in advance.
I have fully subscribed my ISA limit for this year. so 'I CAN'T MOVE ANY MORE MONEY INTO ISA' (apologies for caps but this is the basis for my question)
situation is like below:
1) 10000 existing IAG shares in ISA
2) now I got 10000 IAGN rights have been credited into my account today.
since I can't put more money into ISA. Am I right in thinking of selling IAG shares at current market price and use that money to subscribe to rights so that after subscription I will get 15000 shares (rights converted to actual shares) on 9th october.
I am worried about a scenario where for whatever reason, my subscription rights have been failed to convert and my broker returned the money and in that case i will experience HUGE loss . Please suggest.
***posted too early***
Apologies for premature questions as I am new to this. Thanks, Calamari.
So ideally I have one of these options
1) SELL (self) - you see 'rights' (IAGN ticker symbol) in your trading account on thursday and you can SELL at prevalent market best price
2) SELL (broker) - rights have been allocated automatically and i don't do anything and broker will sell on 21st
3) BUY (self) - you pay 88 pence per share and convert rights into real shares.
Apologies for premature questions as I am new to this. Thanks, Calamari.
So ideally I have one of these options
1) SELL (self) - you see 'rights' (IAGN ticker symbol) in your trading account on thursday and you can SELL at prevalent market best price
2) SELL (broker) - rights have been allocated automatically and i don't do anything and broker will sell on 2
2)
'There is an option to sell these shares, but also an option to buy more'.
@TradingPlaces69, see above message from 'Projectile00'. that's what exactly missing from other brokers. I understand your statement as well.
My only concern is, if you are selling on your own then you can wait for best price and sell . but if you let broker do it, then they will try to dump all clients shares at once which will drag price down.
not sure why degiro is giving this option and trading212 is not allowing you to sell , Iweb (halifax) yet to confirm about this.....etc
why all brokers are not offering same service when they are trying to process same rights issue. i am confused.
yes, but is there any option to sell these new shares?
May be each broker is dealing this differently . update from trading212 says
' your rights will be sold on 21.09 at the market and the proceeds will be distributed shortly after to your account' . I am trying to understand difference between Deigiro vs trading212 here. I don't see any new shares in my trading 212 account. Does that mean Degiro is giving you choice to see your rights for the price you wish to sell in open market where trading212 is just selling these rights on 21st in open market on behalf of you!
Thanks, calamari. A follow up question on this please!
1) If you want to exercise 'BUY' on rights, then your earlier explanation.
Am I right in thinking?
2) if you wan to exercise 'SELL' of your rights, then is it selling rights 'IAGN' ticker at best available trading price? as of now it is 75 or something so it can be anything based on demand at the time of you selling? Please clarify.
There is news link on yahoo finance. not sure if it will posted ok here.
https://uk.sports.yahoo.com/news/british-airways-iag-shareholder-raise-job-cuts-092054347.html
but it says, 'Shareholders have no obligation to participate in the rights issue, and they can also sell the rights to another party'. I went through PDF in IAG site but can't see details about this! As I understand it says ' You either take it or leave it'.