Yipeee... I applied for an amount in excess of the value of my cash in my account. Logical since the IPO will be over subscribed. I am putting my head on the line here and am predicting a 5% allocation. This means that I expect the sponsors to get applications for R1.2bn. Lets see in a few weeks time how it works out.
From what I know you not be able to apply for more that what you have got in cash in your account. That cash amount is resereved until your allocation is granted. So don't get too excited else everyone will do what you have done. If I am wrong please let me know - thanks
I quote "Due to the small size of the IPO ( R30 million ) and the expected over subscription, your allocation, if any might be small." Considering the above how do i know how much cash to make available ?
Did an application yday for R100k. Based on what Simon says, that will be cancelled as I have insufficient cash in the account. So now, I just did an app for R39k because that is how much cash I do have. Hopefully, the R39k will be processed and the R100k will be ignored.