So if I choose to ignore the email will the subscription be sold on my behalf?
Will I then receive the funds directly to my account?
Strange exchange rate EUR to GBxā¦ Since when is 0.92EUR 88GBx?
A quick question new shares are offered @ ā¬0.92.
Currently Trading212 is offering Ā£0.88 can we have fx rate T212 is using.
702 x 0.88 = 617.76
Based of 09th Sept it was equailant to Ā£0.82,
702 x 0.82 = 575.64
Today exchange rate is Ā£0.86
702 x 0.86 = 589.68
I never look at fx rate when buying n selling but I since I have already calculated this and it seems there is big difference of about Ā£42.12( That 32 shares of IAG at itās current value)
Can we buy new stock directly in Eurosā¦most of us have accounts in Euros?
I guess those who hold euro account with still pay to pay Ā£0.88 as IAG shares are in GBP.
IAG has announced that the price of new shares is 0.92Euro, so I guess that it is legitimate to buy them directly in Euros for that priceā¦I do not see any problem about that.
Iām not sure; what you mean by directlyā¦ we cant excercise our right directly as we hold nominee account.
Our holdings are with Trading212 (brokerage account)
Sorry for the silly questionsā¦
When can we sell the rights issue shares? Is the a time limit?
If you canāt sell the new shares, will you be able to sell your original share?
And finally, I recieved this statement in an email from T212, āIf you decide to not participate, your rights will be sold on 21.09 at the market and the proceeds will be distributed shortly after to your accountā. How can anyone receive proceeds without additional risk?
Why bother taking up the rights?
I know thereās a lot of questions, any clarification would be appreciated
I have meant to buy them in Euros without conversion in GBx.
This might have already been asked and answered. But when we subscribe to the rights issue and the funds have been taken out of the account when will the new shares be added to our account? I havent recived any confirmation after the funds were removed. Does this seem right?
You have a valid point,
But we need to keep couple of things in mind.
IAG shares are offered in sterling by Trading212;
No matter what currency we try to topup our account it will be converted to your account currency Trading212 offered us ā¬, Ā£or $.
I guess Iāll have to go with the flow and increase my Avg share price.
Bit of research for those of us at our annual ISA allowance.
According to the regulations
An investor may give an ISA manager sufficient cash to take up the offer outside the ISA, provided the ISA manager immediately transfers the investments to the investor to be held outside the ISA.
For some reason Trading 212 are not doing this while other ISA providers happily transfer your rights to an investment account. Trading 212 have investments account you would think they would be happy to get more investments. Seems taking out an ISA with trading 212 is bad for your finances. Sure I can mitigate the losses by selling and repurchasing but I cannot fully participate in the rights issue. Contacting the financial obusdsman tomorrow as it seems unfair to have your rights held hostage within an ISA.
I agree. 0.88 is ridiculous. This should be at least 0.85 according to todayās rate. There should be clarification from trading212 why there is such discrepancy
I just received the rights offering email today and just wanted to know if I have to buy the maximum number of shares I am entitled to? Iād like to buy some shares (not the maximum I am entitled to) at the offered price and I have funds in my account but when I click the link it states that I have insufficient funds to exercise my rights issue.
I contacted customer services who werenāt really helpful. Is there anyone else having the same issue?
I had the same issue. I wanted to buy a percentage of the shares but had to buy all of them. I ended up purchasing them all as it dident cost much but slightly annoying.
I have a few sharesin IAG but no spare money, i have an ETF in my isa and a couple of other stocks, is it worth selling some of my ETFās and other stocks i hold to free up money so i can buy more IAG shares, even though they have been in red all year! Is it a good idea to buy more, any help much appreciated, thanksā¦
1 Take up all or some of your Subscription Rights
2 Sell all of your Subscription Rights
3 Take up some of your Subscription Rights and sell others (Cashless Take Up)
Folloing is the link if anyone wants to read indetail
https://www.iairgroup.com/~/media/Files/I/IAG/capital-increase-documents/en/shareholder-guide.pdf
Does anyone know if weāll have the option to buy a certain amount and loose the rest of the rights offerings or does it have to be the full amount ? Thanks
Edit : i mean if youāre holding specifically through the ISA account on trading 212
Iād very much like to take either some of my subscription or a cashless take up. The guide provides a web link to elect to subscribe / sell, but I believe we canāt use this method as we purchased through Trading 212 and havenāt received SRN or Entitlement Number.
So the only option on this platform is to buy all the shares we are entitled to? Does anyone know if Trading 212 will give us the option to take some of our subscribe or have a cashless take up??
88p looks to be what IAG has set the price as.
What is the Subscription Price for the Corporate Sponsored Nominee?
Ā£0.88. As the Capital Increase is being made under Spanish law, the Subscription Price is set in Euros at ā¬0.92. This has been converted to a sterling (GBP) amount for the Corporate Sponsored Nominee at an exchange rate of 1.0464 (GBP/EUR). At the end of the subscription period, subscription monies will be converted to Euros in order for the aggregated Subscription Rights to be taken up in the Capital Increase on behalf of holders in the Corporate Sponsored Nominee Service.