Forum Archive Index - August 2002

["Shares" <shares@whoami.com>]

MAPCA are only partly paid and require another A$1.00 in October.  The issue price was A$2, - $1 up front and $1 in Oct.  Since issue, to fund the purchase of Rome Airports, there has been a non-renounceable 3 for 4 rights issue announced at A$1.50 per share, with take up to be in August.  This will dilute the value?/price of existing MAPCA shares.  It would seem likely that there will be a poor uptake, as shares can be bought now for A$1.33 (.33 now and 1.00 in Oct).  Essentially I view MAPCA as oversold, (partly because of market sentiment and partly because of the prices paid for airports), and believe at the current price, the long term outlook (3 - 5 years) is sound.

 

DISC - Hold & burnt horribly!!! 

----- Original Message -----

From: john selby

To: sharechat@sharechat.co.nz

Sent: Wednesday, August 14, 2002 10:19 AM

Subject: [sharechat] macpa

any thoughts on macquarie airports fund, this fund entered on $1.00 on 02/04/02 amongst a lot of controvosy about paying to much for sydney airport, not enough history for the technicals but now mapca is trading in the low 30cents, some fundementals on this stock would be appreciated

                                                                                              johnnz