ASX Shares Platinum IPO

Discussion in 'Shares & Funds' started by Nigel Ward, 13th Apr, 2007.

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  1. Handyandy

    Handyandy Well-Known Member

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    How do they know who the fund holder applications were?
     
    Handyandy, 22nd Apr, 2007
    #41
  2. pthm

    pthm Well-Known Member

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    I have applied in personal name account and smsf account. After the allocations, if I want to transfer the shares in personal names to smsf account - scrip transfer, does anyone know what would be the tax implications? I borrowed money to apply for the personal names, but have enough money in smsf - but ComSec rules only allow max $20K for each account. Appreciate any view / comment on this. Thanks.
     
    pthm, 22nd Apr, 2007
    #42
  3. Nigel Ward

    Nigel Ward Well-Known Member

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    Having missed the commsec cut-off, will fund holders receive separate notification?
     
    Nigel Ward, 22nd Apr, 2007
    #43
  4. Handyandy

    Handyandy Well-Known Member

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    Thats why I asked the question. I am a unit holder but have had no notification/invitation. So I suspect that there is no advantage to being a unit holder.

    Cheers
     
    Handyandy, 23rd Apr, 2007
    #44
  5. Glebe

    Glebe Well-Known Member

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    Andy,

    Are you a unit holder (directly) or unit holder via a margin loan?

    If you are a unit holder via a margin loan, Platinum doesn't recognise you, they recognise the bank's trustee that is holding your units.
     
    Glebe, 23rd Apr, 2007
    #45
  6. DaveA__

    DaveA__ Well-Known Member

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    Bell potter still has thier offer open for the IPO

    i wonder if its worth signing up to become a member so you can apply under them, or if the fees involved would be too much...
     
    DaveA__, 23rd Apr, 2007
    #46
  7. DaveJ__

    DaveJ__ Well-Known Member

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    Leveraged

    I contacted Leveraged Equities & Platinum Asset Management today to discuss the 'Fund holders allocation'. It appears Platinum has offered only a single application to margin lenders and thereby not recognising the underlying holders.
    Leveraged Equites are discussing with themselves how, if at all, they will offer the allocation to their margin clients that have Platinum funds in their account.

    Seems to be a little too hard or complicated for Leveraged Equities to deal with the single allocation as they will have to collate all clients applications and send it off to Platinum. I guess if you have Platinum funds inside your margin account then you will have to wait and see what they do. :mad:


    Might be worth a phone call to put the pressure on! :rolleyes:

    DaveJ
     
    DaveJ__, 23rd Apr, 2007
    #47
  8. Handyandy

    Handyandy Well-Known Member

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    Its direct in my SMSF. I have already applied in the SMSF ones but I will take another allocation;) if I can get one.

    cheers
     
    Handyandy, 23rd Apr, 2007
    #48
  9. Simon Hampel

    Simon Hampel Founder Staff Member

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    handy - I believe that the offer to existing unit holders hasn't been released yet.

    If you look at the scrolling news text on your "account balance" page in the Platinum funds website, it says:

    ... so I'm guessing it will be in the mail !!
     
    Simon Hampel, 24th Apr, 2007
    #49
  10. marmot

    marmot Well-Known Member

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    NAB Fund allocation

    Well I checked in the mail today to find a letter from my Margin Loan manager (NAB) offering me an option to participate in the Platinum share offer. :)

    So it would apear that at least some of the Margin lenders may be passing on the IPO to eligible clients.
    NAB advise as part of their that they have alocated Platinum an security ratio of 65%

    cheers
     
    marmot, 26th Apr, 2007
    #50
  11. DaveA__

    DaveA__ Well-Known Member

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    wow comsec are only offering it a 60% LVR and its the lead floater..
     
    DaveA__, 26th Apr, 2007
    #51
  12. Nigel Ward

    Nigel Ward Well-Known Member

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    Tried it, but the bell potter guy was honest enough to say "Mate, I'd sign you up as a client but there's NO WAY you'll get any Platinum...we're massively oversubcribed for our allocation..."

    ...well it was worth a shot...

    Cheers
    N.
     
    Nigel Ward, 26th Apr, 2007
    #52
  13. Handyandy

    Handyandy Well-Known Member

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    You were spot on. My SMSF received the letter the other day. Have put in another application after contacting them to make sure I could use the offer for a structure other than the unit holder (my SMSF)

    Cheers
     
    Handyandy, 26th Apr, 2007
    #53
  14. pthm

    pthm Well-Known Member

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    Here is the first paragraph of an article in the Intelligent Investor - since I am not a subscriber so cannot read the article. Am hoping to get some from ComSec. Saw our CBA bank manager the other day and she said there would certainly be some scaleback by ComSec, but she could not guess by how much.

    -------------
    Platinum set for a grand entrance

    It's rare that we recommend a float, and even rarer that we recommend you buy on listing at a significant premium. But Kerr Neilson’s funds management business is one of a kind.

    --------------
     
    pthm, 26th Apr, 2007
    #54
  15. Nigel Ward

    Nigel Ward Well-Known Member

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    Just to update the BT customers, I contacted their customer service team re the Platinum float access for fund investors through the BT margin loan product and was told:

    Later when I emphasised how we're all keen for a resolution asap:

    I have to say generally I've found the BT customer service to be less than ideal...but perhaps they'll come through here...
     
    Nigel Ward, 27th Apr, 2007
    #55
  16. perky

    perky Well-Known Member

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    Thanks Nigel,
    Lets hope BT can get its act together, I wouldn't mind getting into this IPO.
     
    perky, 27th Apr, 2007
    #56
  17. DaveJ__

    DaveJ__ Well-Known Member

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    Looks like Leveraged Equities have come to the party!!

    If you have Platinum Funds in your Leveraged margin account then check your emails ;)

    Now to decide if or how much is worth investing...:rolleyes:


    Going to be VERY oversubscribed from my reading....

    DaveJ
     
    DaveJ__, 27th Apr, 2007
    #57
  18. Simon

    Simon Well-Known Member

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    I just got this email too ... I am going to try for $50K worth and don't expect to get that much. Or would $100K be worth trying for you reckon?
     
    Simon, 27th Apr, 2007
    #58
  19. Simon Hampel

    Simon Hampel Founder Staff Member

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    Just wondering what LVR Leveraged Equities are offering ?

    Ironically, I refinanced my Platinum funds away from Leveraged Equities a couple of months back, and have only just applied to refinance them back to LevEq in the last couple of weeks (still pending) - so I doubt I will get an offer.
     
    Simon Hampel, 27th Apr, 2007
    #59
  20. DaveJ__

    DaveJ__ Well-Known Member

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    There was no mention of LVR in the email... Will have to wait and see on Monday.

    Maybe similar to other offerings above?? :confused:
     
    DaveJ__, 28th Apr, 2007
    #60
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