30 funds are buying into our debts at discount. Indication of various funds are thinking on future of alinta are going to be shine and money making machine for them. So becoming a shareholder of the new alinta with reduce debts and bright outlook which become so attractive to these 30 plus funds.
Any debt to equity swap deal will be result of 30 plus institutional holders on our stocks. As a result of that one thing clear is not one party will be able to crush other 29 plus major holders. Any swap deal likely be on common issues prices. So my guess is under 50c per share issue while considering BBIL been issue 88 milions shares to wipe out $400 milions of debs which is equivalent to $4 per share issue.
AEJ Price at posting:
5.8¢ Sentiment: None Disclosure: Held
