Oh great - sp tanks, not a buyer in sight. Well done IFT!
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Oh great - sp tanks, not a buyer in sight. Well done IFT!
A lot more people wanting to get out that didn't??
I'm genuinely confused
Is this a lesson in how not to return capital to shareholders? It looks like it has made a lot of shareholders realise that they actually do not want to remain holders!
Disc: IFT shareholder
Can someone please explain to me in simple language what this proposal is?
I read it three times over yesterday and again today and I'm still not sure exactly what is happening.
I was thinking about jumping out, but I missed the whole thing.
I've gotta say there's been some funny decisions lately. I'm in it for the infrastructure part of my portfolio and found the MET purchase to be somewhat outside of where I thought their business model sat. I've already got SUM and I don't want to double up, plus I don't believe MET to be a great investment. The Airport for $1 was a bit of a slap in the face.
I'm generally confused about their strategic direction and was considering moving on at a good price. But now will look to hold for a bit longer as a confuzzled shareholder.
its happened
IFT initiated an oddly structured buyback whereby for two hours today they stood in the market and acquired IFTX ( being converted by NZX from IFT ord shares !!) shares that were offered to them with a goal of about 25 million shares at up to 2.60.
It appears 35 million went through at an average price of 2.38.
IFT Shares were trading again after the two hour break and immediately the price fell from 2.40 to to 2:20 and is now trading at 2.24.
A bizarre outcome - I think it indicates that there were a lot of sellers lurking around.
If you thought IFT was good value before you should be loving it now. But of course market determines price not value.