Thanks mostly to the efforts of energetic corporate irritant Stephen Mayne, many of the nation’s self-funded superannuants are taking an interest in the Bank of Queensland’s most recent capital raising. For all the wrong reasons.
The charge is that the George Franzis-led regional bank, advised by UBS and Goldman Sachs, gave small shareholders only eight business days to participate in its latest attractively priced offer of new stock to existing shareholders. Which isn’t much time to get a set of documents mailed and delivered. Particularly given Australia Post no longer delivers daily.
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Myriam Robin is a senior writer based in the Melbourne newsroom. She has previously been a Rear Window columnist and editor, and before that reported on financial markets and media. Connect with Myriam on Twitter. Email Myriam at myriam.robin@afr.com
