As we all know, Telstra (ASX code: TLS) is one of Australia’s largest telecommunications company, offering numerous products and services. With a long history dating back to the beginning of the Australia’s Federation in 1901, the Telstra we know today started life in 1975 under the name Telecom Australia- an Australian Government owned company. After a number of changes to it’s structure, the renamed Telstra Corporation began to be privatised in 1997.
Privatisation of Telstra
Privatisation occurs when a Government owned business is sold to the investing public. Telstra was sold by the Australian Government to the investing public in three stages, often referred to as T1, T2 and T3.
As part of the first sale, Telstra was listed on the Australian Stock Exchange (ASX) enabling investors to buy and sell shares in the open market.
Cost Base for Telstra Shares
If you acquired your shares as part of the privatisation, your cost base will be:
- T1 in 1997 for $3.30 per share; and
- T2 in 1999 for $7.40 per share; and
- T3 in 2006 for $3.60 per share.
This assumes that you did not reinvest dividend as part of a dividend reinvestment plan. If you did, your cost base will be different to this as every additional purchase of shares with dividend proceeds will have its own unique cost base. We cover more on tax and selling shares here.
Selling Your Telstra Shares
Ordinarily you require an account with a stockbroker to buy and sell on the ASX. This is not particularly practical if you only want to conduct a single transaction (one off share sale).
Using Sell My Shares you can sell Telstra shares and any other ASX listed shares using our 100% online process. To get started you will need your Security Reference Number (SRN) which can be found on a holding statement of dividend statement mailed to you by the company’s share registry. SRNs are 10 digits long and start with the letter ‘I’.
When Will I Receive My Money?
Funds usually appear in clients bank accounts on the evening of the third business day following the day the shares are sold. Whilst there is no way to speed this process up, you can expedite the time to sell your shares by using our urgent share sale service.
We offer three service levels which cater for different needs. The fastest service we offer allows you to sell your shares within just a few hours.
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