In todays Hobart Mercury - "Gunns facing tight market
Posted June 13, 2012 12:24:41
A financial analyst believes worsening global economic conditions may be hindering a capital raising by the Tasmanian timber company Gunns.
The company has been in a trading halt for more than three months as it negotiates the plan to raise about $400 million by issuing new shares.
Gunns has ceased its weekly updates to the market on the capital raising, and has not made any announcements on the plan since May the 15th.
Shadforth Financial Group analyst, Matthew Torenius, says investor confidence has deteriorated over the past three months.
"We've seen a flare-up with the EU, and the issues regarding Spain and Greece," he said.
"We've seen some weaker economic data out of the US, and some weaker economic data out of China.
"All of which have made investors a lot more cautious than they were.""
I'm one of the investor who's confidence with GNS has deteriorated.
Time to get it over and lift the suspension - my loss is tax deductable. Bring it on !!!
CoolRoom
DYOR
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