Regional shopping centres, interesting post bid drop
Now that we’ve launched US stocks, this is available in the app
Company has drafted in PwC. Likely to raise more capital. Have lots of debt.
The company is fairly well known, owning places like the Metro Centre, Lakeside, and Trafford Centre.
It’s not for me because, UK retail property, yikes! But if others in the same sector, like Hammerson and New River are on Freetrade, so should Intu.
It’s a REIT, so you won’t be able to hold it in your Freetrade ISA yet. But with their Invest Platform rolling out now, maybe soon?
Down another ~8% today because retail is [censored].
Still selling assets
It looks like it’s bad news for shareholders. What’s the story with Intu? Was it being loaded up with debt - the company taking loans to pay dividends, parent companies etc?
I just don’t understand how a company with properties like the Trafford Centre could have been on a downward run for so long, even before Covid. The rents they were charging were known to be obscene, what the hell were they doing with the money?
Looks like it’s happening today.
They have now