QR National float tempts retiree to invest $40,000
The estimated $6 billion share market float and privitisation of coal rail freight business QR National has tempted one self-funded retiree to invest $40,000 in the company.
Susan Kenrick, a former accountant from Redcliffe, told the Courier-Mail she had applied for $20,000 worth of shares in her name and $20,000 in the name of her self-managed super fund with her husband.
Today (November 12th) is the last day for retail investors to apply for shares while institutional applicants have until next Friday.
Ms Kenrick, who has bought shares in various major companies since the early 1990s, told the newspaper she felt QR was a promising investment because the inefficiencies of the Queensland Government-owned operation would be smoothed out in the private sector.
"I get a bit bogged down with reading the prospectus but RBS Morgans gave its clients some good research summary, which included both the positive and negative points," said the 57-year-old.
"My view is, you have got to invest in something. I take calculated risks, you don't just go and chuck it all on a horse."
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