Hi everyone this is my first post. In the last year I have become more interested in hybrid securities as a source of income. I hold regular ASX listed stocks but branched out into these as a better source of income rather that of online interest bearing accounts.
Last month the Bank of Queensland and the Goodman Group both raised cash through IPO's and the circumstances of these Hybrid Stocks are pretty much the same.
One is BOQPC and the other is GMPPA. Both have a 5 year reset date, they pay 2% and 1.9% respectively rate above the 90 day Bank Bill rate but there prices are way different.
BOQPC closed at $102.80 and GMPPA closed at $95.50 today. Both have a face value of $100.
Can anybody explain why 2 such similar stocks have such huge variations in prices? I just can't work it out? Cheers.