Business Services Industry
MACQUARIE AIRPORTS INVESTORS FINALLY COME OUT AHEAD.
AsiaPulse News, June, 2004
SYDNEY, June 10 Asia Pulse - Investors who bought into Sydney Airport owner Macquarie Airports (MAp) (ASX:MAP) two years ago are finally in the money, after the stock closed above its issue price for the first time today.
MAp's securities were issued at $2.00 each in April 2002, and closed at $2.05 today, up seven cents or 3.5 per cent, as Citigroup joined the growing number of analysts who have warmed to the stock.
The Macquarie Bank Ltd (ASX:MBL)-managed MAp has long said the effective issue price was below $2.00, since it issued a second discounted tranche of securities soon after the first.
But those who bought only the first batch saw their investment turn profitable today.
"It's been a long time coming," said Commonwealth Securities...
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