Saga share offer

sabretoothtigger

one in twenty is 5% discount. That can easily happen naturally, I suggest most people considering this a bargain just buy ftse index.

It pays dividends and its much safer, I doubt it'll grow any less then Saga. Leave the big boys to hold this one in their mammoth funds unless you really do fancy its prospects, I cant imagine why

jimjames

This isn't direct at anyone specific but as per my previous comments it really worries me than anyone would consider this who has never invested in the past and has no other investments. The price or lock in or anything else shouldn't come into it, the main feature should be that you're not prepared for the risk. If it was part of a plan to use investments or other risk assets why wasn't that done previously instead of holding cash? Jumping in at the deep end with a floatation like this just seems destined to end badly for a lot of people who don't know what they are doing.

You only had to see the rants in the Daily Mail from people who had filled a S&S ISA with money to buy RM shares and then had no clue what they had done because they didn't get allocated shares, to see what can go wrong. And that was with a share that rose.

doe808

What jimjames said.

MABLE

If anyone is interested there is a good article in the Daily Telegraph regarding this share and also comments from Questor. The view is they regard Saga a fair investment for the long term.

Val75

Thank you Mable,have just read it all, last word was say avoid, so we shall do that. Thank you all for your most interesting views and advice, cheerio Val




ps not relevant here, but thought you might find it interesting,we have our car, house and breakdown with Saga.


Renewed last week, very competitive with car insurance, however, breakdown was £68.99 I told the chap that was expensive, even for the almost full cover we had, all right then, he said ,how about £37.49!! Same cover.
Pays to ask doesn't it?
Val

MABLE

Val75 wrote: »

Thank you Mable,have just read it all, last word was say avoid, so we shall do that. Thank you all for your most interesting views and advice, cheerio Val




ps not relevant here, but thought you might find it interesting,we have our car, house and breakdown with Saga.


Renewed last week, very competitive with car insurance, however, breakdown was £68.99 I told the chap that was expensive, even for the almost full cover we had, all right then, he said ,how about £37.49!! Same cover.
Pays to ask doesn't it?
Val

Just like BG they try every year to raise the price of their Home care service and every year I reject it. I advise them if they do not keep it at the same price I will leave and after a bit of friendly
patter they normally agree.

josie

MABLE wrote: »

Just like BG they try every year to raise the price of their Home care service and every year I reject it. I advise them if they do not keep it at the same price I will leave and after a bit of friendly
patter they normally agree.

This is standard practice for insurance companies. Always shop around and / or go back and say you can get cheaper elsewhere.

dealsearcher

bowlhead99 wrote: »

I'm not sure you have that right. I know it had become quite obvious from media and government speculation that it was likely to price at the high end of the indicative Price Range which 2010 quoted to us. So personally as an investor I was expecting it to be 330p or thereabouts.

But, so far as I can see, the prospectus including the price range and size range was published in September with deadline for applications by 8 October. Then on 10 October after the offer closed, they finalised the pricing statement and officially announced what the price was going to be. But only AFTER the applications process was complete. That is how IPOs work, no? When do you think the final price was announced? I'm happy to be corrected.

When I bought the RMG share at the IPO price of 330p it was known that was the price. The allowable number of shares was not yet known and became £750 after I had applied. Those were the facts. I am not yet aware of the exact price of the Saga shares. They may yet be given a price before the final date. However I am not really bothered as, for reasons covered in this thread, I shall not be applying this time.

bowlhead99

I appreciate that arguing with an anonymous stranger on the internet is one of the most futile things a man can do.

However,

The Guardian has an "as it happened" on 10th October from when they were doing a live blog and the share price and allocation details were going to be published after the close of the stock market that day.

Shortly after 5.30pm, it was announced that the Offer Price was 330p. Previously, only an Offer Range had been published. You were only allocated shares at the Offer Price, if you had filed your application by the closing date, on 8 October, two days earlier.

So, at the time of application, it was not known what the price was. You could not have relied on any official literature telling you a specific price. By the time the application deadline passed late on 8 October, all you had was media speculation and expectation that it would have to price at the top of the range because it was oversubscribed. Whether or not you believed the speculation you could have thought to yourself "ok it's not going to cost me more than 330p" because that was the top of the range.

Similarly for Saga you can think to yourself "it's not likely to cost me more than 245p" because that's the top of the indicative range. The more subscriptions they get, the higher the price.

As I say, that's generally how an IPO process works. It is an 'offering' for them to see how many people want the shares that they have available, and the price is set based on demand.

Like you, I'm not subscribing.

le_loup

bowlhead99 wrote: »

I appreciate that arguing with an anonymous stranger on the internet is one of the most futile things a man can do.