Hi all
is anyone else having trouble logging onto Commbank or commsec today?
tks
is anyone else having trouble logging onto Commbank or commsec today?
tks
commbank logon
- Thread starter WBG Redcliffe
- Start date
any idea when it will be back on??
have to resort to phone calls.
Happened again in early December.
http://www.australianit.news.com.au/story/0,24897,24749715-5013040,00.html
Happened again in early December.
http://www.australianit.news.com.au/story/0,24897,24749715-5013040,00.html
Its been a really good day for CBA....
http://www.news.com.au/business/story/0,27753,24813025-462,00.html
FURIOUS investors have forced the Commonwealth Bank to reduce the price of its $2 billion capital raising after a profit warning.
The investment community is angry with CBA after it issued a quasi profit warning an hour after supposedly completing a $2 billion institutional raising yesterday at $27 a share.
The revised offer is now at $26 a share, a 10.8 per cent discount to yesterday’s closing price.
Some investors have called on the securities regulator to investigate, reports The Australian.
The bank disclosed at 7pm yesterday that its bad-debt charges had increased, which, some brokers forecast, may cut earnings by as much as 5-7 per cent in fiscal 2009.
Trouble is, this news was apparently not conveyed by the bank, or Merrill Lynch, when the capital raising was being marketed to institutions between 4pm and 6pm yesterday.
It is understood that when investors were re-approached this morning, some wanted their money back, others demanded a better price and all were unhappy.
A market participant who didn’t want to be named said $800 million worth of shares had been offered at $26 a share while the rest of the raising would be done through a bookbuild.
“It’s a bit of a debacle in terms of communicating with the market. I haven’t seen anything quite like it,” said the market participant.
“I think ASIC will have to have a very good look at the process in terms of how well the market was informed.”
The market participant said CBA’s reputation had been damaged by the stuff up.
“My regard for corporate Australia is probably at an all time low for companies not taking responsibility for mistakes,” he said.
A second market participant said the incident was “extraordinary” and “probably unprecedented”.
“There’s a major confidence issue arising here from the transparency (of the bank),” he said.
http://www.news.com.au/business/story/0,27753,24813025-462,00.html
FURIOUS investors have forced the Commonwealth Bank to reduce the price of its $2 billion capital raising after a profit warning.
The investment community is angry with CBA after it issued a quasi profit warning an hour after supposedly completing a $2 billion institutional raising yesterday at $27 a share.
The revised offer is now at $26 a share, a 10.8 per cent discount to yesterday’s closing price.
Some investors have called on the securities regulator to investigate, reports The Australian.
The bank disclosed at 7pm yesterday that its bad-debt charges had increased, which, some brokers forecast, may cut earnings by as much as 5-7 per cent in fiscal 2009.
Trouble is, this news was apparently not conveyed by the bank, or Merrill Lynch, when the capital raising was being marketed to institutions between 4pm and 6pm yesterday.
It is understood that when investors were re-approached this morning, some wanted their money back, others demanded a better price and all were unhappy.
A market participant who didn’t want to be named said $800 million worth of shares had been offered at $26 a share while the rest of the raising would be done through a bookbuild.
“It’s a bit of a debacle in terms of communicating with the market. I haven’t seen anything quite like it,” said the market participant.
“I think ASIC will have to have a very good look at the process in terms of how well the market was informed.”
The market participant said CBA’s reputation had been damaged by the stuff up.
“My regard for corporate Australia is probably at an all time low for companies not taking responsibility for mistakes,” he said.
A second market participant said the incident was “extraordinary” and “probably unprecedented”.
“There’s a major confidence issue arising here from the transparency (of the bank),” he said.
