Anxious for Rock float
Article Abstract:
Northern Rock Building Society will float on the stock market on Oct 1 1997. Members could receive 1,750 pounds sterling worth of stocks rather than an initial estimate of 1,400 pounds. Members will each receive 500 stocks, or 1,000 if they had a mortgage and deposit account with Northern Rock in April 1996. Members may decide to retain their stocks and this represents more risk than selling them and investing the proceeds more widely. Northern Rock has performed well, however, and could be subject of a takeover bid which would push up the stock price.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Woolwich nears the finishing post
Article Abstract:
The Woolwich stock flotation will involve free stocks for around 2.5 million members, and the stock price is likely to be higher than originally forecast. The price could still be affected by the 1997 Budget, and there may be less demand from institutional investors than was the case for the Halifax and Alliance and Leicester. Woolwich members have to decide on whether to sell or retain their stocks, and where to hold them if they are to retain the stocks.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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UK windfalls: no boom
Article Abstract:
UK building society payouts are likely to be more than expected by HSBC Markets does not see them as likely to lead to a consumer boom. Consumer spending would increase by 5% if all the windfalls were spent, but they are to be paid to better-off and older recipients who have a lower propensity to consume. The increase in consumer spending from windfalls is estimated at some 0.7% for 1997 which would fit in with a general rise in spending of 4%.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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