is this correct, that the group incurred substantial losses in Dubai (100M)? looking at previous 6 month results the business seems to be tracking on similar lines as previous years. Hence if Banks loaned them 250M knowing the previous results why there is a sudden rush to recapitalize. Also if the share offer comes out purely as rights issue the offer price is inconsequential for people taking up their full entitlement. It will be in the interest of the Underwriters to the issue to minimize the offer price so that they can pick all the left overs dirt cheap.
HST Price at posting:
82.1¢ Sentiment: None Disclosure: Not Held
