selldown! , page-5

I'd be very concerned (as would the ASX, ASIC, etc) if the selldown was related to the purchase, given we've only had details of the purchase on Friday evening (insider trading if related). The release time of the ANN is interesting- near the ASX close. It certainly stuck out though- one doesn't expect ot see price sensitive ANN's at that time of night.

As to the purchase, it looks a good enough company. IFM already has synergies, and they get to own the contracts, etc. It doesn't look expensive, and comes witha swag of goodies, useful to IFM. I am not opposed to growth in companies- it's when they are flogging off assets, stc, that one has to worry. Whilst it doesn;t say that this purchase is earnings accretivee, it alsoo doesn't say it will have a negative impact (and nor should it).

Maybe our seller is just in financial trouble, and it's having a cascade effect on all others in the IFM market. Somehow, somewhere, some will make money on this. I'm just not sure who (hint: it won't be me!) IFM make a pile of money in their business. Debt funding doesn't bother me. Equity funding is usually paid for by us anyway. A capital raising would be a bummer. Imo, I'm happy IFM are in a position to obtain debt funding, and use it well- to grow.