I read their announcement. "Separately, TOT has agreed terms to become a major equity partner in an unlisted real estate funds management platform (subject to completion of due diligence) with settlement expected prior to HY21 results on 26 February 2021. Head of Real Estate, James Storey said,“Following these investments TOT will have deployed approximately $135 million, being the majority of TOT’s available capital into strategic equity holdings in real estate funds management platforms with gross assets of approximately $4.0 billion”."
If they're going to pursue new projects with IAP then more funds will be required if they want to keep current dividend at 6 cents. Just my opinion.
TOT Price at posting:
86.5¢ Sentiment: Buy Disclosure: Held
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