Monday, October 23, 2006

Telstra T2 Take up high

The "T3" sale of the Australian Government's remaining stake in telco Telstra begins today for retail investors. you have until 9 November to get some shares. Some 50% of the $A8bn worth of stock to be issued has been pre-allocated to 45 broking firms and financial services companies who had received expressions of interest by sophisticated investors. Finance Minister Nick Minchin noted that 212,000 such clients have taken part, meaning that "T3" is well on track to becoming a successful issue.

Something to note was that this take up has been higher than T2.

All this will drive more small investors to get some of the telstra shares. This may push up the price short term but longer term Telstra is still a risky investment.

Good Luck Investing.

No comments: