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NG. National Grid Plc

882.00
9.20 (1.05%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
National Grid Plc LSE:NG. London Ordinary Share GB00BDR05C01 ORD 12 204/473P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  9.20 1.05% 882.00 884.80 885.00 886.20 869.20 870.20 13,981,884 16:35:12
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Combination Utilities, Nec 19.86B 3.1B 0.8408 10.52 32.63B
National Grid Plc is listed in the Combination Utilities sector of the London Stock Exchange with ticker NG.. The last closing price for National Grid was 872.80p. Over the last year, National Grid shares have traded in a share price range of 826.60p to 1,145.50p.

National Grid currently has 3,688,191,645 shares in issue. The market capitalisation of National Grid is £32.63 billion. National Grid has a price to earnings ratio (PE ratio) of 10.52.

National Grid Share Discussion Threads

Showing 9276 to 9298 of 9975 messages
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DateSubjectAuthorDiscuss
23/5/2024
13:27
Details of the rights issue are temporarily at the top of the header for easy reference.

Initially seeing the price drop today I had assumed ex-rights today. Having just caught up I see it's tomorrow! Frankly I'm disgusted at this wholesale destruction in value and timing evidenced by the 10% drop today and have sold out - I may buy back tomorrow. My NG. holding was with FreeTrade and it seems that they don't process rights issues(!?) - I've questioned this but have decided to sell today based on the little information I have on this! Does anyone here have any knowledge of how FreeTrade process rights issues and if they do now do this? I have to wait 1-2 days for a reply from them which is too long given the XR date tomorrow.

bountyhunter
23/5/2024
13:20
Agree, with the rights fully in place the share price is equivalent to about 920, from 1127 prior to the rights issue.That's why I'm surprised it hasn't fallen more today as the nil pairs start trading tomorrow.Share price should drop to 920/930 and then we will see where it goes from there.If it drops below, I will be tempted to buy.
stoopid
23/5/2024
12:59
It’s not clear as the date of the 20th of May is also mentioned. I’d like clarity on this as it’s not clear and makes a big difference. I’d also assumed the 10% drop factored in the rights issue but if it hasn’t then it’ll drop by another 10% tomorrow which feels too much
steveyc1
23/5/2024
12:51
Looking at the share price I'd assumed the shares had gone ex-rights but I've just realised that the shares don't go ex-rights till tomorrow. A fall in the share price is to be expected as some shareholders raise cash to take up their rights but 10% seems too much. Looks like the market isn't happy. Maybe announcing it the day after a surprise election was one surprise too many?
cynicalsteve
23/5/2024
12:03
Share price is 10% down so the market hates either the results, the rights issue, or both.

Not hate as shares always fall on a rights issue. That's because the rights have to be priced well below the previous market price to make them sufficiently attractive. So the resulting price has to fall to between the rights cost and the earlier share price.

anhar
23/5/2024
12:00
One interesting calculation arises from divis on the rights shares. These cost 645p and NG. states that divis will be cut by an estimated 15% from the 2024 rights-adjusted figure of 53p, making about 45p. This means the forward yield on subscribed rights shares will be a high 7.0%, a tempting yield for an income player like me.
anhar
23/5/2024
11:59
Share price is 10% down so the market hates either the results, the rights issue, or both.
viscount1
23/5/2024
11:56
Did any of you just watch the Results presentation?

Andy Agg was commenting in part to a question, where he said with the expansion / investments (based both in UK and USA) the eventual asset worth will be £100billion. With the rights issue there will eventually be 4.7 billion shares in circ. So simple maths:- 100 / 4.7 = £21.27 by 2030????

BTW for those querying corporate action notification, most platforms will be issuing corporate action notification tomorrow.

utyinv
23/5/2024
11:54
hiddendepths, Surely if you want to buy NG today. Wait until tomorrow, when the share price will be around 924p, which equates to buying them today with the Rights !
garycook
23/5/2024
11:54
The £60bn investment plan will be funded by the largest rights issue in Europe for 15 years outside the banking sector, by tapping the debt markets, and by selling its liquified natural gas terminal on the Isle of Grain, east of London. It also plans to sell its US onshore wind and solar business, but remains interested investing in US offshore wind projects.
bargainsniper
23/5/2024
11:49
Some brokers will offer the choice of you

1) Taking some or all of the rights
2)Not taking the rights and then they will sell the rights to the underwriters
3) "tail swallowing". They will sell a proportion of the rights and with the money raised will buy shares. The cost to you should be nil (less fees etc). They do the calculation automatically.

Think I may take up most of mine. Have a dividend from AV to invest today, that will pretty much balance out.

dr biotech
23/5/2024
11:38
The lapsed rights usually seem to be sold at a disappointingly low price as the sellers are forced! I'm sure the underwriters are licking their lips!
hiddendepths
23/5/2024
11:36
It's worth looking at selling on the market but from memory the bid/offer spread is often terrible so watch that.
viscount1
23/5/2024
11:35
Lapsed npr sales will be at about the final closing market price before they become fpr (fully paid rights). So yes if you don't intend to subscribe, you can simply do nothing and receive the value of the lapsed rights if they have any by then - ie anything over 645p as mentioned above.

So those not intending to take up their rights at all have two options. Sell the npr in the market or do nothing and wait for their lapsed rights disposal. It's not possible to say which might be more rewarding. The only point is that selling in the market means you know the price achieved, whilst waiting for the lapsed money does not offer the same certainty until later, which could be higher or lower.

anhar
23/5/2024
11:33
They did a share consolidation back in May 2017 ,11 for 12 but also paid a special dividend then. My calculations show a return of 44% in approx 11 years , as I held from 2013 , if you are an income investor . Tax free in a share isa. Time for a change and re-invest elsewhere. Good luck to all who stay in.
cyfalafwr
23/5/2024
11:25
GARY - the record date is 20th May. That's the date that is used for the documents to be sent to holders, usually through their brokers. Those documents will go the wrong place if the holder sells after that but before the xr date - but if you are such a seller you're not entitled to those rights and it's up to your broker and the buyer's broker to ensure the purchaser receives the rights entitlement. In other words the record date is an administration date and has no real relevance to the shareholder unless the brokers are asleep on the job!

The xr date is what matters to shareholders.

hiddendepths
23/5/2024
11:23
Yes, providing the rights had value (i.e. a little above the offer price of 645).
viscount1
23/5/2024
11:19
viscount
>> just let them expire and get cashed out

Do you mean anyone letting the nil paid rights expire will get a cash credit from NG?

bountyhunter
23/5/2024
11:16
If the shares close tonight at 1006p, the theoretical ex rights price tomorrow morning will be 924p.
hiddendepths
23/5/2024
11:15
GARY - if you look carefully that's not quite what they've said! Ill explain shortly. I used to be a broker btw
hiddendepths
23/5/2024
11:10
Held since 2013 for divis. Sold out this morning to reinvest in another blue chip that pays a reasonable divi. Any ideas , not looking for investment advice just a starting point for my research.
cyfalafwr
23/5/2024
11:08
Very confusing. So why have NG stated that to be eligible for the Rights. You have to be on the Share register at close of business Monday 20th of May !
garycook
23/5/2024
10:59
From previous experience (Not from any official source for this case): You may be able to sell the Nil Rights, but brokers generally will charge a larger than standard trading fee. If you let the rights lapse, you will not get any payment. That’s why they are named “Nil”. Unfortunate as it may be, the rational action is to exercise your allotted rights. If you don’t want to increase your position, you can sell the new shares once they start trading.
feddie
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