A: At the moment, I would say for a small shareholder, buy them through the share offer.

The main reason is that through the share offer, you are largely immune from market risk. In fact, you will pay the VWAP (volume weighted average price) of ANZ shares traded on the ASX over the next 5 days from Wed 2 Sept to Tuesday 8 Sept, less a 2.0% discount.

The main disadvantages of the share offer is it is capped at $15,000; you may be scaled back and receive considerably less than $15,000; and you won’t know how many shares you will get until Thurs 17, September.

Hope this helps.