Hey Dargie,
remember this thread, you were doing some analysis on a prospective DBCT sale I believe:
"re: debt status (jonkey1995)
Forum: ASX - By Stock (Back | Return to Search Results for 'ASX Symbol: "bbi" Poster: "jonkey" ')
Code: BBI - BABCOCK & BROWN INFRASTRUCTURE GROUP ( 4.1c | Price Chart | Announcements | Google BBI)
Post: 3502285
Reply to: #3502186 from dargie Views: 457
Posted: 18/11/08 21:40 Stock Price (at time of posting): 5.3c Sentiment: LT Buy Disclosure: Stock Held From: 202.154.xxx.xxx
Excellent work Dargie. If they managed this I am of the oppinion that sp will increase, especially if dividend returns in 2010. Question is will it recover enough that even if Beepa was converted in 2012 to equity would there be minimal dilution (i.e. sp above $1)? I wish I had a crystal ball. "
Same place now as we were then, except the sp is lower, a bit further down the track in regards to a potential sale of DBCT, PowerCo is sold at slightly worse terms, Euroports transaction done and awaiting finalisation. Also the GFC is getting worse and dividends returning is still an "if" by 2010. I say an "if" based on what assets they sell and at what price, as corporate debt has first priority IMO.
Given the worsening GFC it was prudent to change holdings to Beppa, especially at or near parity. Not so much because of failure but more the present threat of Sparcs conversion.
I still have a long term focus beyond 2010 and still maintain this is a good risk/reward play, but only play with what you can afford to lose. I believe I have been consistent in that message as well.
Cheers
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