cornerstone investor - good and bad part, page-13

S the Hut

What is does prove is that there is a lot of money floating around in Asia looking for investment opportunities.

LNC has been in Aust and the largest single institution has so far been some mob from Queensland with less than 2% of the company.
LNC has had to move to get lumpy investor money there is none that PB can raise in Aust.

Genting are not the original cornerstone investor that PB was spruiking,the original Temesek has fallen over.
A casino does not match the profile of a Cornerstone investor. But anyones money is good money.
This new investor "Genting" is in my opinion quickly arranged as opportunistic by a merchant bank and is seen by PB as a better option that having 1,000 different shareholders.

I reckon They would have been allotted the issue with the guarantee to not be a stag seller on day one.

It just goes to show that LNC may well have institutional support as it makes up part of the Singapore index.!!!!!!!!!!!!!!!

Mr Hut don't be too quick to dismiss why it may have more value on another index!!

PB has yet again pulled another rabbit out of the hat!!

This cheap sale of 8% at $1.05 reminds me of the first borrowings of $200 M at 13.5 % pragmatically it needed to be raised and the next lot was done at 7% ...lets hope the next lot of shares are likewise issued at double the price $2.10.