Does owning Qantas shares gets you FF IPO Shares?
Aug 3, 2008, 6:20 am
#1
Original Poster
Join Date: Feb 2008
Location: Sydney
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Does owning Qantas shares gets you FF IPO Shares?
Well not a traveling question but want to know if anyone one can confirm this. If you own Qantas shares you are allocated Qantas FF Shares when they float...?
Aug 3, 2008, 4:14 pm
#4
Join Date: Jul 2003
Location: Australia
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From what I have heard - the IPO is still planned to take place. It was one of the main drivers for relaucnhing "The one & only" FF program.
QF will retain about 60% with 40% floated. I doubt QF shareholders will get shares as they will benefit fromt he cash raised by QF in their current QF shares.
QF will retain about 60% with 40% floated. I doubt QF shareholders will get shares as they will benefit fromt he cash raised by QF in their current QF shares.
Aug 3, 2008, 9:56 pm
#5
Moderator: Asiana & Qantas Frequent Flyer
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Planned maybe but nothing more than some vague statements. Let's see whether they will really do this or not. It depends on how people react to the program changes and of course on the market conditions. The QF shareprice might be affected too, once QFF's income isn't there anymore.
And the other question is: If they would sell QFF, what are they going to do with the money? Other than distributing it to QF shareholders I can't see what else QF would do with the money.
Edit: I thought of one thing they can do with the money: Buy another airline
And the other question is: If they would sell QFF, what are they going to do with the money? Other than distributing it to QF shareholders I can't see what else QF would do with the money.
Edit: I thought of one thing they can do with the money: Buy another airline
Aug 3, 2008, 10:09 pm
#6
Join Date: May 2002
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Air NZ, anyone? 
Or AA has got to be going cheap as soon as congress gets with the 21st Century, and realises that Americans are really good at building aeroplanes and waging war with them, but hopeless at using them to make money carrying people from place to place.
As for the IPO, QF SOP sees an initiative kick into gear approx 2 years after it is announced (Skybed, IFE, Bloatbus, you name it).
Or AA has got to be going cheap as soon as congress gets with the 21st Century, and realises that Americans are really good at building aeroplanes and waging war with them, but hopeless at using them to make money carrying people from place to place.
As for the IPO, QF SOP sees an initiative kick into gear approx 2 years after it is announced (Skybed, IFE, Bloatbus, you name it).
Aug 4, 2008, 4:40 am
#8
FlyerTalk Evangelist
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I wouldn't be surprised if there is some offer to existing QF shareholders, especially if the issue is oversubscribed.
It will be the first stock split I have heard of to raise money
I'm not sure a rights issue can be used for an IPO, as generally a rights issue requires a lower level of disclosure than an IPO would require.
Originally Posted by Kiwiflyer
Depends on how it is arranged - split, rights etc
I'm not sure a rights issue can be used for an IPO, as generally a rights issue requires a lower level of disclosure than an IPO would require.
Aug 4, 2008, 5:09 am
#9
Join Date: Dec 2004
Location: London
Posts: 6,265
Like a lot of other floats, I would expect that Qantas shareholders get some kind of preferential application status.
Eg - guarantee of X shares for every QF share hold.
Minimum guaranteed allocation of shares.
But nothings been released yet.
Eg - guarantee of X shares for every QF share hold.
Minimum guaranteed allocation of shares.
But nothings been released yet.
Aug 4, 2008, 6:24 am
#10
Join Date: Oct 2005
Location: London
Posts: 726
They could also do a trade sale, say Aeroplan take 20-25% and the rest floated on the market(tho i think I read somewhere QF will retain 40% of the shares?)
QF might pull/delay the sale tho, given the conditions in the equity markets and the fact that they are not desperate for the cash.
Of course, whether its a good time to buy into a business that is heavily reliant on air travel is another question.
Aug 6, 2008, 9:41 pm
#11
Join Date: Mar 2004
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The lead and co managers have been assigned to the float and currently they are reviewing market volatility to determine timing.
With an enterprise value of about $1.8bn it will probably be one of the biggest floats of this year (lets hope it doesn't follow in BrisConnections shoes).
The QFFP represents about 12% of QF's valuation and there is a lot of cash there that Dixon/Joyce want to get their hands on. Look at Qantas retaining at least 50% of the company for control but at the same time they want as much stock out there to ensure the free float is high.
Don't place much of a chance for FFer's to get an allocation. All depends whether the the lead/co lead managers can place the stock by way of firm allocations to their clients. They may say download a prospectus and send it in and we'll see what we can do, but if the demand is strong the public has a snowball's chance in hell of getting stock.
With an enterprise value of about $1.8bn it will probably be one of the biggest floats of this year (lets hope it doesn't follow in BrisConnections shoes).
The QFFP represents about 12% of QF's valuation and there is a lot of cash there that Dixon/Joyce want to get their hands on. Look at Qantas retaining at least 50% of the company for control but at the same time they want as much stock out there to ensure the free float is high.
Don't place much of a chance for FFer's to get an allocation. All depends whether the the lead/co lead managers can place the stock by way of firm allocations to their clients. They may say download a prospectus and send it in and we'll see what we can do, but if the demand is strong the public has a snowball's chance in hell of getting stock.
Aug 7, 2008, 7:48 am
#12
Moderator: Asiana & Qantas Frequent Flyer
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The lead and co managers have been assigned to the float and currently they are reviewing market volatility to determine timing.
With an enterprise value of about $1.8bn it will probably be one of the biggest floats of this year (lets hope it doesn't follow in BrisConnections shoes).
The QFFP represents about 12% of QF's valuation and there is a lot of cash there that Dixon/Joyce want to get their hands on. Look at Qantas retaining at least 50% of the company for control but at the same time they want as much stock out there to ensure the free float is high.
Don't place much of a chance for FFer's to get an allocation. All depends whether the the lead/co lead managers can place the stock by way of firm allocations to their clients. They may say download a prospectus and send it in and we'll see what we can do, but if the demand is strong the public has a snowball's chance in hell of getting stock.
With an enterprise value of about $1.8bn it will probably be one of the biggest floats of this year (lets hope it doesn't follow in BrisConnections shoes).
The QFFP represents about 12% of QF's valuation and there is a lot of cash there that Dixon/Joyce want to get their hands on. Look at Qantas retaining at least 50% of the company for control but at the same time they want as much stock out there to ensure the free float is high.
Don't place much of a chance for FFer's to get an allocation. All depends whether the the lead/co lead managers can place the stock by way of firm allocations to their clients. They may say download a prospectus and send it in and we'll see what we can do, but if the demand is strong the public has a snowball's chance in hell of getting stock.
Aug 31, 2008, 11:46 pm
#13
Join Date: Mar 2004
Location: DXB
Programs: QF Gold MB Gold Elite
Posts: 612
No idea where you get the 12% from. QF market cap is $6.4bn currently. Dixon has said he has seen a price tag for the FFP of about $2.5bn to $3.5bn. In other words, they are expecting the program to be about half of the QF value. Even if only 40% of this are floated, this will still be more than 12%.
Sep 1, 2008, 6:56 am
#14
Join Date: Feb 2007
Programs: SG, PR, Avis Preferred and so on
Posts: 192
I await the opportunity to become a shareholder through the "new improved FF scheme". thats right people, use your points to become a shareholder in the FF scheme. Varying prices available of course depending on classic or any share options, preference provided to WP's and CL.....