Grid's grey shares buzz
Article Abstract:
Trading will commence in National Grid shares on Dec 11 1995. Shareholders of some UK electric utilities can begin trading using the grey market prior to this date. This involves risks associated with volatility and a wide spread between selling and buying prices. Grey markets have been common for UK privatizations. The UK stock market has brought in regulations permitting grey markets where a company has a market capitalization above 100 million pounds sterling and a demerger or first public offering is involved.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Quick feast, no indigestion
Article Abstract:
National Grid shares amounting to a 10.7% stake have been sold by Scottish Power and North West Water following the official start for dealing in these shares. The sales were carried through without unduly affecting the share price, and bring Scottish Power 168 million pounds sterling, and 208 million pounds for North West Water. The shares have not been offered to institutions as has occurred in most previous privatizations. Private shareholders should wait before considering selling their shares.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Utility windfalls - a time for rapid action
Article Abstract:
Two UK privatized utilities are to offer cashbacks to shareholders, and other utilities may follow. Yorkshire Water plans to offer bonus B shares and divide ordinary shares into two. Southern Electric plans similar measures. Investors would be advised to sell their B shares which have limited voting rights and relatively low yields. Investors should check their liability for capital gains tax, and could postpone the sale of the B shares if this reduces their tax liability.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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