yep they tried to squeeze every pip out of the deal. its not cynical. its the truth. by squeezing instos is charter hall's only hope for a stag, if instos are forced to buy- giving more stock to retail hands
but like any rational player insto will look at the yield and its a lot lower than the others. If you adjust for geography it should be at 6% yield. The NTA's are probably set too high.
Look at PLG. its trading at 71c versus 89c and had similar issues with regards to geography- weak areas. But its WALE was super thin hence it tanked. this wont have that particular issue.
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