Lemming99

 I've just done a quick comparison of bond prices for Metro Bank from this source data  for bonds and this source data for equity. Here are the absolute values each month of this year. (Bond prices in Blue, Share price in Red) Setting both to start at 100 makes it relatively more interesting. It seems that the bond prices are leading the equity prices over the whole year. Bonds are 76% of their value from the begining of the year whilst shares are only 66% of their value from the start of the year. Is the equity on track to close the gap? 76% of the value of the share price at the begining of the year would be 153p. It looked like it was trying to make it on Monday afternoon. Perhaps we'll get there next Monday.. oh no that's a bank holiday. Make that Tuesday then. I own shares in Metro Bank. This is not investment advice. Please do your own research. I'm happy to share mine.

Several things will need to happen before MetroBank is allowed to recover. I'll divide these into two categories: 1) regulatory and reporting 2) emotional 1) Regulatory and reporting.  Having done a bit of research it seems to me that the relevant regulatory authorities are The Bank, FCA and PRA. The Bank of England did a handy announcement on the day of the new share sale saying that Metro are profitable, have enough money and this new money is for growth. The Prudential Regulation Authority seem to judge the appropriateness of board members in banking and can ban people. Metro have 6 or their 9 board members who've been in position since the beginning in 2010 and are now nearing the end of their 9 year "maximum" term. These mates are seen as a bit too insider-ish it would seem. Usually people don't get banned per se, but withdraw their application for continued tenure and step aside gracefully. We'll probably see some new blood appearing on the BOD (an...

The Metro Bank share price initially reacted well to their successful and over-subscribed large share placing on 16th May 2019. Since the initial euphoria the share price has been drifting lower. Perhaps it was weighed down by a large number of short positions at the time. More recently many of these have closed as per the graph on short tracker  shown below: There has been some interesting trading from major holders these past few weeks. I built up my initial position at 650p to 700p and paid just over £8 for some more. I'm glad to see Fidelity also saw great value at 694p. In fact Fidelity started out by selling more a third of their holding on 10th May at 533.5p according to this Guardian article . They clearly had sellers' remorse as by 22nd May the share price peaked at 813p. As the price drifed back, they took the opportunity to nearly double their holding from 5.37% to 9.53% on 5th June when the share price was 694p. They've since added some more to 9.56% o...

With some corrections / additional comments in blue below. Now that Metro Bank has a new £375m on deposit, I thought I would work out the net asset value and shareholder equity. Total Assets at 31 March '19        £22,194m New Capital                                       £375m ------------------------------------------------------- Total                                              £22,569m Total Liabilities at 31 March         £20,788m Shareholder Equity                          £1,781m Total Voting Rights                    172,420,458 Net Asset Value per share            ...

I wasn't actively tracking Metro Bank, but had been aware of the story these past few weeks. Over the weekend I started reading up about them. The close on Thursday was 536p trading up on Friday to close at 669p up 24.8%. As I write today they're up about 10% at 772p (It also was at 782p whilst working out some of the numbers below) The cash raise was priced at 500p a 36p discount to closing price on Thursday They wanted to raise £350m but actually raised £375m issuing 75m new shares. The BBC wrote about the crisis on 19th March '19 when the share price was 850p, it had dropped from 3396p on 27 July '18 (75% drop) Metro has debt of £249m Here's some high level analysis to translate old money into new money (partly as Google haven't updated the total voting rights (TVR) yet). 27th July '18 company valuation was Marcap £3,308,398,753 2nd May '19 TVR was 97,420,458 and Share price 650p Marcap £633,232,977 Share price at 500p Marcap £487,102...