That's interesting. They are raising another bond issue which will bring them up to $150m (although there is a bond that matures in November). That plus the ZEL sale will give them $500m+ - perhaps enough for a half share of Pacific Hydro...
Printable View
And the share price drops,go figure :)
Looks like it
http://www.nbr.co.nz/article/infrati...hydro-b-179495
Indeed, I have had IFT for a long time and have had a good return over the years. However not all their investments have performed as they would have liked - ergo there is always risk when undertaking a new investment especially if it is a switch from an (historcally) high performing investment. In addition, I think IFT may have sold ZEL preemptively to lock in their profits from ZEL before a period of uncertainty for that company with the ComCom roulette wheel.
Which new deal ? With plenty of fire power there are opportunities.We can be sure they know either space well.It made 5? times its original investment with Z.With an estimate of a $1b new investment all the best for another good run :)
http://www.nbr.co.nz/article/market-...drops-b-179609
http://www.nzherald.co.nz/sharemarke...522346&ref=rss