Brought some more today, with a yield of 12% (conservative distribution) this is much better than an ING account. Small write down is already factored into the current SP, their Aust Asset is first class, there are not heavily into debt like CNP. I would imagine Institutional investers will pay more that $1 if there is a rights issue, they might even pay more then the current SP to take a substantial stake. Sorry but I just can’t see their offices in Syd and Melb to be written down as the occupancy is almost 100% and office space is still a premium.
The gap b/w MGR and GPT is widening, Im predicting the gap to be smaller in 2 weeks when GPT pays distribution and announce business is inline with forecast.
GL all.
GPT Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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