Originally Posted by
greater fool
Pref shares are capital. See note 7 of accounts.
Main differences to ordinary shares are: non voting, and redeemable by resolution of directors at price calculated
based on VWAP on-market NZX trades.
Originally issued @64cps, to raise ~$110m, primarily to fund the First Sponsor Group (mis)adventure.
FSG, a China based property development company, incorporated in Bermuda, headquarters in Singapore.
FSG a few years later, IPO'd to a listed Singapore company, and MCK-MCKPA holders received FSG shares via a share consolidation.
The pref shares $33m book value will be the post consolidation proceeds from issue.
:confused: