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Rights Issue help


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10 hours ago, Barneydog1 said:

IAG has announced a rights issue and share holders can take up an “allocation” at 36% reduction to the price the shares closed last night 9/9. 
my question is how do I take up this offer when my shares are held in an account with you? Am I legible to take part? 

I would also like to know the answer please to Barneydog1 question.

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Hi all - has anyone unearthed any info on this? I'm also wondering the same. 

I did come across this letter from the IAG Chairman: https://www.iairgroup.com/~/media/Files/I/IAG/agm-documents/en/chairmans-letter-uk.pdf - it doesn't answer the question per se but only further highlights that we appear to be in the 15 day window mentioned here: https://www.iairgroup.com/~/media/Files/I/IAG/press-releases/english/2020/Fully%20Underwritten%20Capital%20Increase%20to%20Raise%20Gross%20Proceeds%20of%202741%20million.pdf

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Guest beginner

Hi Guys, any update on this IAG "rights issue"? I am beginner on share trading, and very confused with this right issue.

Today suddenly I have huge lose on IAG, the share price dropped 30%+. I was told it is to do with right issue. But surely I should get some sort of "compensation"? Maybe buying the "rights" at very low price? But so far nothing happens.

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Hi Guys, any update on this IAG "rights issue"? I am beginner on share trading, and very confused with this right issue.

Today suddenly I have huge lose on IAG, the share price dropped 30%+. I was told it is to do with right issue. But surely I should get some sort of "compensation"? Maybe buying the "rights" at very low price? But so far nothing happens. Any hint?Anybody can help to explain what usually will happen when they do a right issue?

Edited by touchq
add more information
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Guest I spoke with IG last fri

I was advised I’ll receive an email from corporate actions informing of three opportunities. Taking up the offer, trading rights, Not doing anything. Nothing as yet so they will be receiving a call from me tomorrow although Thursday is the first big day.

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Hi I spoke to the help desk a couple of time’s. Today they confirmed we would be receiving an email today giving the option to take up Additional shares at the discounted price. It comes from IG not IAG as our shares are held in a nominated account. 
 

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So, I’m in the same boat, the Helpdesk guy said the rights issue would appear in my account in a few days and I could either take up the rights to buy or sell the rights on market. I’m new to trading and would really like some advice on what my options are. Don’t really want to buy more shares but would really like to limit the loss I see on my account. I assume the rights issues won’t be priced high enough to recover the drop in value. 

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Received this reply today!  I tried calling but no luck in getting through!!

Thanks for your email.

Please note the ex-date for IAG rights is 14th September. We will email further instructions to you today. Please call if you wish to trade the rights.

If you have any further queries, please do not hesitate to contact us.
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Mine appeared this morning as "International Consolidated Airlines Group SA (LSE) Rights Issue".  Quantity is the same as my shares up to 9/9. Avg price - 0. Says call to close.

Would like to know if there is anything I need to do to ensure these are eventually added to my standard IAG shares.

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See the rights in my account, but no email from IG about it, like they typically do asking you if you want to take up the rights or do nothing or trade them.

Very weird one. Did they forget to send out the email this time or is it something else?

Edited by DSchenk
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Taking up rights is typically for free. Lapsing them is of course for free.

Although trading the rights, might be subject to fees. I imagine the standard rates apply.

Question is if they apply the online rates (£8 / £3) or because you have to call in, you pay the phone rates, which are like £40.

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