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Rights Issue help

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Exactly - phone rates are ridiculous when I’m more than happy to trade online. I tried emailing them to find out but no reply yet. If anybody knows from past experience please do let me know. Many thanks!

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My email informing of the rights issue suggested I should reply to the IG email if I wished to participate in the rights issue.  I did and the email bounced - anyone else tried this?

 

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Does anyone know when the rights issue lapses? The email from IG has no dates and I can't find anything online.

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How it was booked to your account: 

This is a European rights issue, and it just so happens that the rights are initially booked on a 1 to 1 basis for these types of issues. This is just how it works.

Once the rights are booked to the account, they are then convertible into new shares on a 3 for 2 basis.

So if you had 100 shares through cash close on Friday last week, on Monday morning you would have woken up with 100 additional rights booked to your account.

These 100 rights can be taken up and converted into 150 new shares, on a 3 shares for every 2 rights basis. Each new share will then cost EUR 0.92 to purchase.

Example of how the rights issue works if you had 4 shares. 

If the trader wants to take up the rights, he/she can convert their 4 rights into 6 additional shares at a price of EUR 3.68 (Share Dealing).

For leveraged accounts, the trader would have to pay the equivalent margin of the full notional of the rights. If the margin rate is 20% for IAG, the client will need to have EUR 0.736 (EUR 3.68 x 20%) in order to take up the rights.

There's no deadline date confirmed yet but it would be best to email us back as soon as possible if you want to take them up. 

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Thanks CharlotteIG.  Is there an option to buy more at the reduced price?  Does this all have to be done via email?

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15 minutes ago, Rosbif said:

Thanks CharlotteIG.  Is there an option to buy more at the reduced price?  Does this all have to be done via email?

Hey @Rosbif

If you have a leveraged account there is an option to over subscribe. We need an email from you saying if possible I wish to subscribe to x (how ever many more shares you want) over my rights issue amount. You need to make sure you have available funds on your account to take these up. 

All the best 

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Hi, @@CharlotteIG

I have received an email from IG about right issue and asked me to email back my decision. But this morning, IAG right issue seems available to trade online just like normal stock. Can I simply trade online to take up the right?

Thanks

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