Why DNZ and not the other LPT that is currently available on the market?
Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.
"A listing with an initial market capitalisation close to $800 million is expected"
- this must be wrong. Market capitalisation can't be much more than $300m after accounting for debt and the discount that most LPTs are currently selling at.
The IPO will need to raise maybe $150m to pay out management contract and reduce debt. I wonder whether existing shareholders will have the opportunity or desire to contribute? Many will be heavily burnt victims of Money Managers who won't have much cash left.
Thanks - I hadn't seen that but was aware that it was inevitable. I've got a heap of shares in this thing, which I've had for years. I'd like to see the full details of this offer.
Very positive article in the Herald (almost too positive) but need to see the numbers. I already hold but may be interested in more depending on discount.
Priced range of 76-86 cents and underwritten. Some mickey mouse allocation method of 1/3rd firm and 2/3 contingent- full details not yet available. With trading on the unlisted at 42-45 cents prior to halt, the capital raising/IPO price is no bargin!
Priced range of 76-86 cents and underwritten. Some mickey mouse allocation method of 1/3rd firm and 2/3 contingent- full details not yet available. With trading on the unlisted at 42-45 cents prior to halt, the capital raising/IPO price is no bargin!
Priced range of 76-86 cents and underwritten. Some mickey mouse allocation method of 1/3rd firm and 2/3 contingent- full details not yet available. With trading on the unlisted at 42-45 cents prior to halt, the capital raising/IPO price is no bargin!
I don't think the unlisted share prices are comparable. The Herald article quotes 188m shares currently on issue but there are actually 470m I think. So it appears there will be some consolidation of shares (2 for 5?) prior to listing. This would imply a price for current shares of about 32 cents. Current asset backing is about 80 cents but that is irrelevant - I guess it require a big discount to make the offer attractive when compared with other property companies which also sell at large discounts to net asset value.
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