Investors who are in line to receive free shares from the First Active flotation next week will be told the price at which the shares are to be issued on Monday. The former building society has indicated the shares will be worth between 265p and 380p each with the final figure dependent on market conditions. First Active will place notices in the national newspapers stating the price of the shares on Monday. It will also indicate the share allocations to any members subscribing for additional shares.
Those who applied for the maximum allocation of up to £5,000 worth of shares for each qualifying account may not get the full amount applied for depending on the level of demand for the shares. But they will receive a full refund where warranted.
The shares will begin trading on the Dublin and London stock markets on Tuesday, but members purchasing additional charges will not know exactly how many shares they have received until October 9th. First Active will then send out a notice detailing the full allocation of free shares and any additional shares subscribed for.
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