Please look at the prospectus and or call the stock center. Existing shareholders will get 1.7 - 2.3 shares in the new offering for their old shares. Do the math. I talked to someone in the company and the doubling of their networth will be to look at acquisition opps in this market. A non related person told me this looks good for the bank.
Have not posted in quite some time. I think it will be good for the bank also but what worries me is how long they will pay the dividend at the current rate. With all the extra shares I think that the bank will have to cut it sometime next year. I also think the PE will contract to the levels of other banks.
correct... old shares will be converted depending the amount of the subscription...based on the current price, one might expect a 2.3-2.4 per share conversion ratio. Then it will open somewhere near 9.90 or so??? IMHO only