Wednesday, September 23, 2009

Myer Float - How To Buy Shares In The Myer IPO

Since my post yesterday on the IPO of Myer shares, I've had a couple of questions about how investors can get access to the float. As I mentioned yesterday, the strong brand name will probably attract lots of retail investors to the float and I guess people are worried about missing out.

According to the offer website, as long as you become a Myer One member by 5:00 pm on Friday 25 September, you will be eligible to preregister and have your prospectus mailed to you along with a personalized application form.

But I also read in the FAQ that you will not receive any priority by preregistering.

"If you apply for shares under the Myer Share Offer, you will be treated the same whether or not you have pre-registered."
So there appears to be no reason to panic just yet. Although there has been speculation that preferential treatment would be given to loyalty card holders, the information in the FAQ does seem to contradict this.

If you're worried about missing out, maybe the safest bet is to join up to the loyalty card program before Friday. That way you'll be covered if investors who preregister their interest in the IPO do receive preferential treatment in the Myer float.


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