MAP announced its foreign ownership increased from 37% to 39% between Dec 31 and March 31.
The limit is 40%.
I'm not entirely sure what the regulatory consequences of exceeding 40 are, but MAP can block foreign buyers from buying more than 40%, to remain below the limit.
This effectively means foreigners are currently unable to buy any MAP. Which could explain the share price weakness.
Meanwhile the canadian pension funds which had their done deal for auckland airport now got a billion dollars burning a hole in their pockets. But they can't buy any MAP instead because of the stoopid 40% limit. Dammmittt.
MAP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
