Isn't it a bit odd then, that they suspended the DRP for the dividend due shortly?
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Isn't it a bit odd then, that they suspended the DRP for the dividend due shortly?
Good move by IFT. The SP is at the level it was at the beginning of the year. Unlike with others, these shares are not being sold in a fire sale. Who knows how what turns Covid and the Covid recession will yet make. Infratil will have a good war chest. I am glad I have shares in IFT in my bottom drawer.
"It is intended that eligible shareholders who bid for an amount up to their 'pro rata' share of new shares under the Placement will be allocated their full bid on a best efforts basis."
How does this work?
I would think that individual shareholdings will be entitled to the same proportion of the SPP as they hold to the total non-insto shareholdings.
@$4.76 what a great price for the company to swing that! Wish id never sold way back. This is a miserable margin compared with previous offers, well done to IFT. They will have over $500 mill to cherry pick bargains.
These clowns were doing buybacks galore during the March fall to support and pump the SP, and decide to do a raise 2 months later :sneaky2:
Many of those buybacks were bought at under $4 share. So now they are issuing new shares at $4.75.
Pretty well done I would say. Definitely good for shareholders who have held through the epidemic so far?
Great price for Infratil but is it a great price for existing shareholders? in terms of buying more.
I am guessing this will work in the same way as Auckland Airport offer. Put 50k in and end up getting most back. Although with the small discount could end up getting full amount
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