IPL 0.00% $2.88 incitec pivot limited

Ann: Equity Raising Investor Presentation, page-12

  1. 530 Posts.
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    Actuallylooked at IPL and decided to not bother after management was trumpeting howwell the fertilizer business was going – thinking there would be no cap raise.Got that wrong.

    My ideawas to buy into reasonable quality profit making companies at a discount. Thestrategy that worked well in the GFC hasn't worked this time because SPP issueslook like they will be pretty much all on a pro rata basis. Add to that themassive over subscriptions we are seeing, unless you have a large holding youprobably won't get much. IPL will probably be similar. Ihave now sold all of the small holdings I had since it doesn’t seem worthwhile.

 
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$2.88 $2.90 $2.86 $7.692M 2.671M

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7 103718 $2.88
 

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