BBI babcock & brown infrastructure group
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the buying continues, page-49

  1. melua
    14,880 Posts.
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    16/09/09
    23:57
    Post #: 5652669
    "DILUTION BUYS TIME AND ALLOWS EXISTING INVESTORS TO ENJOY THE RECOVERY."

    Normally yes, but when your market cap is $130M and the company has said the hybrids (face value $880M inclding BEPPA and SPARCS) will convert first and then the cornerstone investor comes in over the top with another $600M, well that is a dilution I have not seen in my lifetime on the ASX.
    The only recovery enjoyment will be for the cornerstone investor and anyone else who gets stock at post dilution prices in the placement.
    BBI Price at posting: 5.2¢ Sentiment: Sell Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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