IAG.L International Consolidated Airlines Group?
Discussion
Big Al. said:
So anybody explain what's going on?
Previous Close on Friday was 194.2
Opening price today 131.6
30% Drop!
TYIA
No. But sorry to say I hope you didn't buy their shares. Risk your money in an airline who might make a profit. For me its currently EZY, WIZZ and in the US Spirit (SAVE) and SouthWest Airlines (LUV). Some nice gains riding the roller coaster of the market since March. I'll get out once things recover.Previous Close on Friday was 194.2
Opening price today 131.6
30% Drop!
TYIA
Targarama said:
No. But sorry to say I hope you didn't buy their shares. Risk your money in an airline who might make a profit. For me its currently EZY, WIZZ and in the US Spirit (SAVE) and SouthWest Airlines (LUV). Some nice gains riding the roller coaster of the market since March. I'll get out once things recover.
No I sold back in March, have had shares in IAG for a good many years, a sort of slush fund. Was thinking about buying back last week around the £2 mark, but glad I held off!
I'll take a look in the gamble thread, thanks.
Dear
International Consolidated Airlines Group SA (‘IAG’) wants to raise approximately EUR2.7 Billion to strengthen its financial position. To do this, they are giving existing shareholders the chance to buy an extra 3 IAG shares for every 2 shares held at close of business on 11 September 2020.
You’ve been credited with ..... Rights in your HL Fund & Share Account, being one Right for each share held at the qualifying time. You’ll therefore need to give up 2 Rights to buy 3 new shares at a cost of EUR0.92 per share. You can choose now if you’d like to take up your Rights and purchase extra shares. The easiest way to do this is online and the deadline to give an instruction is noon Tuesday 22 September 2020.
You have three options
Take up your Rights
You can use your Rights to buy new shares:
The new shares cost EUR0.92 each. As a result you can buy up to a guaranteed .........shares at a cost of EUR......You may apply for more shares than this, also at EUR0.92, but you may not receive all the shares you apply for.
We have to pay for the shares in Euros. We’ll debit your account with the Sterling equivalent at the time of payment, subject to the exchange rate at that time and our standard currency service fee of 1%. As such, we cannot confirm in advance the exact amount in Sterling that will be debited from your account. However, in order to secure your application we are requesting that you make 88p available for each share you wish to buy – this isn’t the amount you’ll be charged but is an amount which should ensure you have enough cash after allowing for exchange rate movements. In the unlikely event that 88p is not sufficient we’ll contact you again.
We’ll debit the full cost of your election, so if you apply for shares in excess of your basic entitlement and scaling back occurs the cash difference will be refunded to your account on receipt. There’s no definite date for this but it’s usually within 7-10 days of the shares being issued. We’ll receive this refund in Euros and convert it to sterling subject to the exchange rate at that time and our standard currency service fee of 1%.
As your existing shares are in a Fund & Share Account the new shares can only be purchased within that same account.
How to take up your Rights
Select your Fund & Share Account, choose the Corporate Actions Icon on your IAG Rights and follow the steps.
Make sure the cash you need to buy shares is in your capital (not income) account by noon Tuesday 22 September 2020 and remains there until we debit the cash, expected to be by Thursday 24 September 2020. Please remember to make 88p available for each share you apply to purchase - to take up your Rights in full you would therefore need £........available. If there’s not enough cash we’ll only apply for as many shares as your capital balance allows at 88p per share. Cash from top ups and sales can be used to buy new shares.
Any new shares purchased will be issued on, or around 7 October 2020, and we’ll add them to your existing holding.
Sell your Rights
If the share price is above EUR0.92 your Rights are expected to have a value of their own. Instead of taking up your Rights you can sell them online or over the phone on 0117 980 9800 at our normal dealing rates.
If you’d like to sell some of your Rights and use the proceeds to take up the rest, call us on 0117 980 9800. In calculating the number of Rights you’d need to sell we’ll again use a sterling take up price of 88p.
Do nothing
If you don’t sell or take up your Rights by the deadline of noon Tuesday 22 September 2020 Hargreaves Lansdown will attempt to sell them on your behalf to ensure they don’t lapse without value. We’ll group your Rights with other Hargreaves Lansdown clients and attempt to place one trade in the market. Any proceeds from this bulk sale will then be distributed pro rata to you and other entitled holders. Please note that on occasion a lower price may be obtained on a bulk sale than that available on a smaller trade. The bulk sale is expected to be completed on Wednesday 23 September 2020 and the cash credited on Thursday 24 September 2020. Please note that although it is expected that a market will continue to exist in the Rights up to Wednesday 23 September 2020 it can’t be guaranteed. If we’re unable to sell the Rights they will lapse for no value and be removed from your portfolio. To be certain of selling your Rights, and to know in advance what price you’d be selling at, you should do so before noon Tuesday 22 September 2020.
Nothing here is a recommendation and we’ve based this information on our understanding of the prospectus, which is available at www.iairgroup.com/en/investors-and-shareholders/ca...
New legislation requires us to confirm your nationality and National Client Identifier (NCI) to allow you to participate in this Offer. If you’ve not already provided us with these details you must do so before you’ll be able to give an election. You can provide the details online at www.hl.co.uk/trading or over the telephone on 0117 900 9000. If you’ve already provided us with these details you can proceed with an election as normal.
If you have any questions please call us on 0117 900 9000 so we can help.
Yours sincerely
International Consolidated Airlines Group SA (‘IAG’) wants to raise approximately EUR2.7 Billion to strengthen its financial position. To do this, they are giving existing shareholders the chance to buy an extra 3 IAG shares for every 2 shares held at close of business on 11 September 2020.
You’ve been credited with ..... Rights in your HL Fund & Share Account, being one Right for each share held at the qualifying time. You’ll therefore need to give up 2 Rights to buy 3 new shares at a cost of EUR0.92 per share. You can choose now if you’d like to take up your Rights and purchase extra shares. The easiest way to do this is online and the deadline to give an instruction is noon Tuesday 22 September 2020.
You have three options
Take up your Rights
You can use your Rights to buy new shares:
The new shares cost EUR0.92 each. As a result you can buy up to a guaranteed .........shares at a cost of EUR......You may apply for more shares than this, also at EUR0.92, but you may not receive all the shares you apply for.
We have to pay for the shares in Euros. We’ll debit your account with the Sterling equivalent at the time of payment, subject to the exchange rate at that time and our standard currency service fee of 1%. As such, we cannot confirm in advance the exact amount in Sterling that will be debited from your account. However, in order to secure your application we are requesting that you make 88p available for each share you wish to buy – this isn’t the amount you’ll be charged but is an amount which should ensure you have enough cash after allowing for exchange rate movements. In the unlikely event that 88p is not sufficient we’ll contact you again.
We’ll debit the full cost of your election, so if you apply for shares in excess of your basic entitlement and scaling back occurs the cash difference will be refunded to your account on receipt. There’s no definite date for this but it’s usually within 7-10 days of the shares being issued. We’ll receive this refund in Euros and convert it to sterling subject to the exchange rate at that time and our standard currency service fee of 1%.
As your existing shares are in a Fund & Share Account the new shares can only be purchased within that same account.
How to take up your Rights
Select your Fund & Share Account, choose the Corporate Actions Icon on your IAG Rights and follow the steps.
Make sure the cash you need to buy shares is in your capital (not income) account by noon Tuesday 22 September 2020 and remains there until we debit the cash, expected to be by Thursday 24 September 2020. Please remember to make 88p available for each share you apply to purchase - to take up your Rights in full you would therefore need £........available. If there’s not enough cash we’ll only apply for as many shares as your capital balance allows at 88p per share. Cash from top ups and sales can be used to buy new shares.
Any new shares purchased will be issued on, or around 7 October 2020, and we’ll add them to your existing holding.
Sell your Rights
If the share price is above EUR0.92 your Rights are expected to have a value of their own. Instead of taking up your Rights you can sell them online or over the phone on 0117 980 9800 at our normal dealing rates.
If you’d like to sell some of your Rights and use the proceeds to take up the rest, call us on 0117 980 9800. In calculating the number of Rights you’d need to sell we’ll again use a sterling take up price of 88p.
Do nothing
If you don’t sell or take up your Rights by the deadline of noon Tuesday 22 September 2020 Hargreaves Lansdown will attempt to sell them on your behalf to ensure they don’t lapse without value. We’ll group your Rights with other Hargreaves Lansdown clients and attempt to place one trade in the market. Any proceeds from this bulk sale will then be distributed pro rata to you and other entitled holders. Please note that on occasion a lower price may be obtained on a bulk sale than that available on a smaller trade. The bulk sale is expected to be completed on Wednesday 23 September 2020 and the cash credited on Thursday 24 September 2020. Please note that although it is expected that a market will continue to exist in the Rights up to Wednesday 23 September 2020 it can’t be guaranteed. If we’re unable to sell the Rights they will lapse for no value and be removed from your portfolio. To be certain of selling your Rights, and to know in advance what price you’d be selling at, you should do so before noon Tuesday 22 September 2020.
Nothing here is a recommendation and we’ve based this information on our understanding of the prospectus, which is available at www.iairgroup.com/en/investors-and-shareholders/ca...
New legislation requires us to confirm your nationality and National Client Identifier (NCI) to allow you to participate in this Offer. If you’ve not already provided us with these details you must do so before you’ll be able to give an election. You can provide the details online at www.hl.co.uk/trading or over the telephone on 0117 900 9000. If you’ve already provided us with these details you can proceed with an election as normal.
If you have any questions please call us on 0117 900 9000 so we can help.
Yours sincerely
But what’s going to happen to the share price?
Will it go down anyway? Or will it remain at a similar level which is a good deal?
I wonder why they are raising the cash. They said before that they had loads. Either they were lying or do they plan on buying someone out?
Stobart, Virgin, Flybe? Flybe is still in administration until March with slots etc that they may want.
BA are closing head office so who knows.
Will it go down anyway? Or will it remain at a similar level which is a good deal?
I wonder why they are raising the cash. They said before that they had loads. Either they were lying or do they plan on buying someone out?
Stobart, Virgin, Flybe? Flybe is still in administration until March with slots etc that they may want.
BA are closing head office so who knows.
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