Bradford & Bingley - now down to 90p a share.

WTF?_2

The 'discounted' rights issue price available to existing sharesholders to attract new money into the business is 82p.

http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/shares/3/23146/one_month.stm
price change % 52 wk-h 52 wk-l
90.50 -6.75 -6.94 435.50 97.25



Oh dear, oh dear. Down to less than a quarter of what they have been worth in the last year.

I believe that Citi and UBS, two of the banks hardest hit by subprime losses, have agreed to underwrite the rights issue. Another smart move by their market analysts

brit1234

Is it time to short B&B if you haven't already?

ad44downey

Get out now. This is the next Northern Rock. :eek:

napoleon

Good news at last , the shares have tanked so badly that the dividend yield on Bradford and Bingley shares is now a whopping 23%!! And that's after tax!

Div Yield = 23.2%


You'd be lucky to get 7% in a bank. Surely now all the shrewdies should now begging, borrowing and stealing and piling in and buying as many B+B shares as they can get their hands on! Or have I missed something

ruggedtoast

So glad I dont have any money left with those bozos.

Snooze

ad44downey wrote: »

Get out now. This is the next Northern Rock. :eek:

It's okay, no need to panic. The Government will bail them out - just like they did with Northern Rock - and then stick another quid on the price of a litre of unleaded to get their money back... just like they did with Northern Rock.

:T

Rob

Generali

napoleon wrote: »

Good news at last , the shares have tanked so badly that the dividend yield on Bradford and Bingley shares is now a whopping 23%!! And that's after tax!

Div Yield = 23.2%


You'd be lucky to get 7% in a bank. Surely now all the shrewdies should now begging, borrowing and stealing and piling in and buying as many B+B shares as they can get their hands on! Or have I missed something

Haven't they said the divi is going to be paid in shares? And they are......dropping like a brick.

Are they actually bust? Probably not. The fact that the rights issue has been underwritten provides some breathing space for them and they will still be having to produce a FSA003 for the nice Ladies and Gentlemen of the FSA to prove their solvency.

These times will, with hindsight, have thrown up some great buying opportunities. If only I knew what they are.....

m00m00

Generali wrote: »

These times will, with hindsight, have thrown up some great buying opportunities. If only I knew what they are.....

I can already tell you what aren't though

off plan new build flats in city centres

Generali

m00m00 wrote: »

I can already tell you what aren't though

off plan new build flats in city centres

Hey, if I could short Leeds I'd have done it years ago!

jimcoxell

If a bank does go under what happens if you are overdrawn with them?

Generali

jimcoxell wrote: »

If a bank does go under what happens if you are overdrawn with them?

If it actually goes bust then the Official Receiver will chase you to the ends of the earth until you repay it.

In reality, the Govt or the bank that takes them over shortly before insolvency strikes will get you to repay it 'soon'. Very soon if they think you can't repay.