Sydney Airport Holdings Ltd (SYD)

[tango]

Is anyone participating in the rights issue?

Australia's largest airport is aiming to raise $2 billion through a fully underwritten renounceable entitlement offer. It is offering eligible shareholders the chance to purchase one new Sydney Airport share for every 5.15 shares held at $4.56 per share. The offer includes an institutional and retail component.

The offer price represents a 13.2 per cent discount to the theoretical ex-entitlement price of $5.26, based on the $5.39 closing price of Sydney Airport securities on August 10.

Current price $5.40

I have been holding this stock but I think I have gone from the denial stage to despair. We are a long way out from air travel resuming. 2-3 years before whatever the new normal is and that is probably going to be less than historical if people keep using Zoom for business meetings!

[tango]

Here is the entitlement offer on ASX

https://www.asx.com.au/asxpdf/202008...pz68rhlgzl.pdf