From the Australian:"Analyst Sven Restel of WiseOwl.com said...

From the Australian:

"Analyst Sven Restel of WiseOwl.com said that while market conditions were undoubtedly tough, the project itself had problems. "You need yearly growth to attract investors. This group only has one project. Their only opportunity for growth is more and more cars," he said.

"They have no growth, so their only selling point is yield. Their dividend will be paid from debt, which is not sustainable."

Restel said the big losers from yesterday's float were "mum and dad" investors. "They were promised a big yield but it was not delivered," he said. "That the shares opened at 65c means that people were ready to sell straight away. It never even traded at $1. This means the big players have just taken the profits."


Read that third paragraph again. Absolute drivel. What is he actually trying to say ? The normal insto-analyst spin that blames "mum and dad" investors for panicking on any day that it is actually the insto traders running around like chooks with their heads cut off ?

Is he suggesting the mums and dads were dumping on thursday ? That the insto buying into the float were dumping ( and if so, how did they make a profit ???? ).

The only "big player who have just taken the profits" would be Macquarie and Leighton who have succesfully sold a $3bn project for $4bn. I dont see how anyone else has made a profit.