nervous, page-2

There's an article in today's AFR about the capital raising. The article talks about the capital raising being given a better response than last year's capital raising and that 99% of existing shareholders had taken up the offer.

However Deutsche Bank was reported to be disappointed that ALZ wasn't privatised as they said that although ALZ has sufficient liquidity to survive, privatisation would have been a better outcome.

Orbis Management Investment Fund also criticised the capital raising but they at least offered some encouragement by saying that ALZ's underlying results were great, that they were trading profitably and that it was doing well at the bottom of the cycle and that returns from its portfolio would grow in line with inflation.