Hi macrae. I agree with your above comments. This is high risk...

Hi macrae. I agree with your above comments. This is high risk at these prices.

It looks like FPA left its "major geographic shift of its manufacturing operations" a year or two too late. This has also taken a shine of its iconic status and Government bailouts along the lines of AIZ are unlikely.

Even if a capital raising was succesful this would only get rid of a quarter of the debt and leave $400 million. As well as being hugely dilutive.

So saying that I firmly believe that this has become a "real take over target"

I am looking at entering on the New Zealand Exchange (higher liquidity) if the price gets down to the mid 20's.

Only for the brave but I hope currant buyers do well.