Since COVID-19 hit the Australian economy in March 2020, ASX listed companies have raised over $63 billion. Of this, $4.7 billion has been raised by way of Share Purchase Plans.
But what is a share purchase plan? How can you gain access? And why should you invest share purchase plans?
Australia's second largest Buy Now, Pay Later (BNPL) player Zip Co (ASX:Z1P) posted strong Q2 trading results, bringing SPP HarvesterTM investors a return of 36%.
Qantas Airways Ltd (ASX:QAN) might have taken a brutal hit to earnings, posting its worst result it its 100 hundred-year history, but the same isn’t true of investors in its recent share purchase plan via SPP HarvesterTM.
Many of the largest and most well-known companies listed on the ASX complete Share Purchase Plans and often at a discount to the trading price.
The largest capital raise of 2020 to date, National Australia Bank (ASX:NAB) raised $4.25 billion by way of a placement and share purchase plan.