Jump to content

Call to close on IAG - wht does this mean?


macadam

Recommended Posts

IAG went XR yesterday and I was holding stock. I now have a separate entry in my positions with call to close against it. I have 2 different entries with two different prices in different accounts. Please could someone offer explanations?

What is 'call to close"

Why are there 2 different prices?

Thankyou

Link to comment
5 minutes ago, macadam said:

IAG went XR yesterday and I was holding stock. I now have a separate entry in my positions with call to close against it. I have 2 different entries with two different prices in different accounts. Please could someone offer explanations?

What is 'call to close"

Why are there 2 different prices?

Thankyou

Hi, call to close means you need to telephone to close.

Link to comment
1 hour ago, macadam said:

Thanks Casey. That's useful info.

But I still have further questions.

The IAG rights issue offers holders the right to buy 3 shares for every 2 they currently have, at .92 euros.

Can I take up this offer or not?

Is IG offering to buy my rights?

30m
 

!!  IAG Rights ex-date was 14th September, please only call regarding this if you wish to trade the rights

Link to comment
2 minutes ago, macadam said:

Ah - so I can trade my rights or I can exercise my rights. If so I need to decide what is the best course of action for me.

I wonder why the price IG offers varies on different accounts? 

How do you get the best  / better price?

 

by different accounts do you mean share dealing and spread betting (CDF) accounts. sorry can't give answers, not my field, just relaying anything I see.

Link to comment

Did anyone actually receive an e-mail about the rights issue?

Like they usually email you asking if you want to take up the rights or do nothing or trade them?

I haven't seen any email coming in and now have the rights in my account. Weird one.

Certainly would like to take up the rights. What to do?

Link to comment
Guest Jonathan

hey all, 

sharing the e-mail from IG below, so we're all on the same page. Trust you heard the share was diluted by the main share holders (meaning they issues new shares)  to make the price more attractive to the constitutional buyers. in this way they raised a few billions to support the groups liquidity throughout the pandemic.

We’re writing to let you know that International Consolidated Airlines Group SA (LSE) has announced a Rights Issue, entitling shareholders to subscribe for new shares in the company.

The terms of this Rights Issue are:

- Ex-date: 14/09/2020
- Issue: Rights Issue
- Ratio: 3 new shares for 2 shares held
- Subscription price: EUR 0.92 (GBp rate will be emailed to you when we are notified by our broker)
- Trading period: 14/09/2020 to Till IG deadline
- IG deadline: To be confirmed in due course via another email

What this means for the shares you hold

You have the following options for the shares held in your account:

-Take up the rights. Please reply to this email or call our trading services team on the number below to let us know you’d like to take up the rights
-Do nothing. The rights will then lapse (this is the default)
-Trade out of the rights by calling our trading services team. You must do this during regular trading hours
 

You’ll need to make your decision by the IG deadline. If we don’t hear from you before the deadline, we will lapse your entitlement as the default course of action.

Please make sure you have the relevant available funds to take up the offer for your full allocation of shares by the IG Deadline. The Deadline will be announced in due course and to work out how much you will need on your account the equation is below

The amount of shares you are due multiply by the Subscription price.

The information in this email is preliminary and could change. If you need help or have any questions, please contact us using the details below.
 

Kind regards

IG

T 020 7896 0079
T 0800 409 6789
E helpdesk.uk@ig.com

 

 

 

Link to comment

Hello, can somebody help and explain this rights issue? Is my understanding correct that if I hold 100 shares, I would be able to buy 50 shares at a pre-specified price that will be provided by IG over an email? If I accept this, I will get my average price down but ultimately I would still be worse off than where I was on Friday. 

Also, I see we can do it over the phone or reply to the email they sent me so I guess they'll execute the shares purchase etc and won't need to do anything or is that incorrect?   

Link to comment
4 hours ago, DSchenk said:

Did anyone actually receive an e-mail about the rights issue?

Like they usually email you asking if you want to take up the rights or do nothing or trade them?

I haven't seen any email coming in and now have the rights in my account. Weird one.

Certainly would like to take up the rights. What to do?

I got two emails for two accounts

Link to comment

The email doesn't really have much in the way of info. No deadlines dates (just says TBA, which isn't super helpful if it's soon...), doesn't have the cost per share (again, TBA). So, hard to base a decision on this (which is what the email asks you to do).

To the contributor asking about calling to close the trade and sell your rights - be aware that this will likely incur a higher broker fee. In Australia it's $50 or 0.1%, whichever is greater. 

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • ASX: LIGHT & WONDER INC. – LNW Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)   Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with LIGHT & WONDER INC. - LNW. We determine that LNW is developing under wave ((ii))-green and may end soon, and is ready to allow wave ((iii))-green to return to push higher.     ASX: LIGHT & WONDER INC. - LNW  Elliott Wave Technical Analysis   ASX: LIGHT & WONDER INC. - LNW  1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, red) Mode: Motive Structure: Impulse Position: Wave iii-blue of Wave (iii)-purple of Wave ((iii))-green Details: The short-term outlook shows that wave ((ii))-green has extended longer than expected, developing into a Double Zigzag. Wave (x)-purple has just completed, and wave (y)-purple is unfolding to continue pushing lower. Invalidation point: 136.07   ASX: LIGHT & WONDER INC. - LNW  Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: LIGHT & WONDER INC. - LNW  Elliott Wave Technical Analysis ASX: LIGHT & WONDER INC. - LNW  4-Hour Chart Analysis Function: Major trend (Minute degree, green)   Mode: Motive   Structure: Impulse   Position: Wave b-blue of Wave (y)-purple of Wave ((ii))-green   Details: The shorter-term outlook suggests that wave (y)-purple is currently unfolding, subdividing into waves a, b, c-blue, with wave a-blue having just completed. Now is the time for wave b-blue to unfold, pushing slightly higher before wave c-blue returns to push lower. This sequence would complete wave ((ii))-green, allowing wave ((iii))-green to resume and push higher. Invalidation point: 162.00   Conclusion:   Our analysis, forecast of contextual trends, and short-term outlook for ASX: LIGHT & WONDER INC. - LNW aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.   Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here!  
    • Just updated settings for currency conversion from instant to manual. I understand, from now on, I pay commission of 2 cents per share with a minimum charge of $10 on US stocks while on instant it was $0. But, the real question is: - how do i transfer my AUD in my bank to USD on IG. Is bank transfer option (With the acct/swift code from IG) the only option? - what happens when US stock gives divided? does it get transferred to AUD or will it remain somewhere (dont know where) on IG in USD itself?  - what happens when I sell USD stocks? same as above, where do i manually transfer it back to AUD?   Cheers
    • There has been a significant uptick in activity from institutional investors, or "whales," in the meme-inspired cryptocurrency Dogecoin (DOGE). Recent data shows the value of large transactions has almost quadrupled in the past day. According to statistics from IntoTheBlock, transactions over $100,000 have soared in value over the last 24 hours, jumping from $1.53 billion to nearly $3.01 billion. Simultaneously, the amount of DOGE moved by these whales increased from 9.74 billion to 17.97 billion, indicating a substantial rise in investor activity within the Dogecoin ecosystem. This dramatic increase in whale transactions coincides with growing speculation within the crypto community about the possibility of a Dogecoin ETF being approved. Excitement surrounding the prospect of an Ethereum ETF has led to speculation that DOGE might be the next cryptocurrency to get its own ETF. Amid this speculation, a prominent crypto enthusiast named Vee posted on X, suggesting that Dogecoin would be perfect for an ETF due to its broad acceptance and non-security status. In a post highlighting the potential pros and cons, Vee underscored the double-edged nature of traditional financial institutions' interest in Dogecoin. Billy Markus, one of the coin's co-creators, humorously remarked that a Dogecoin ETF would be "amusing," a sentiment that fits DOGE's playful origins but doesn't detract from the serious investment opportunities current market trends present. Dogecoin value has risen by 11.2% over the last week, reflecting the overall upward trend in the cryptocurrency market. Although DOGE has seen a slight 0.7% increase in the last day, it is now trading at $0.168.
×
×
  • Create New...
us