is this right??, page-5

Well what a ride that was. Macquarie took over IIT about 12 years ago, putting their name to it so it became MIG. Over a period of time they multiplied the size by an order of magnitude, issued themselves gigantic fees which of course was a function of it's size, not SP, issued themselves gigantic amounts of shares, sucked in new investors consistently through the whold period who stumped up billions, yes billions.

Now that the vehicle has been completely raped they're giving it back to the market after a final round of going away fees, one for the road. They're cutting themselves loose with the SP now less that what it was when they took it over around 12 years ago.

It was always used by them as nothing but a gigantic fees machine. Investors were raped imo, but it sure did put some bankers into Sydney Harbour property.

I don't know about you but for me there's been a few lessons learned... :)