Ohh boy has the SP really been punished for the INSTO Cap Raising by ABP Management. WIthout disclosing ANY details to us investors they stock is being severely punished..IMO.
They have diluted our shares by approx 15%, yet we did get a good deal of $91 Mil cash from an INSTO at 40c... So it is not like we did not get anything for the dilution of shares.
It is simply the FACT that Management have decided not to disclose the details as to WHY they needed the $91Mil. Some have grown suspicious- IMO. A timely release to market telling us exactually what they intend to do with the 91Mil is required ABP Management...
If the reason is a good one, good value then we will see the price continue back to mid 40's. If they are grabbing a great yielding bargain- IMO- it could got higher.
Yet we do not know what is going on.
Anyway I topped up to my limit at 39c. With a high income, good assets and possible great acquistions to come it is worth the price- IMO. Investors will look to high yielding securities in an uncertain future. I just hope ABP has done the correct deal to raise the $91 Mil and for what purpose?
Depending on the above factors will make me think whether to stick with this property trust or look elsewhere.
It is definately a HOLD now, until we know what is going on...Yet I took the gamble to top up whilst Management prepare what they will release to market in terms of the 91Mil.
what tha... 39c !!!
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$1.15 |
Change
0.010(0.88%) |
Mkt cap ! $1.027B | |||
| Open | High | Low | Value | Volume |
| $1.15 | $1.16 | $1.14 | $730.1K | 634.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7732 | $1.15 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.16 | 8728 | 1 |
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