RE:RE:RE:RE:FTN unit nav comes in @ $18.14 before distributionsCertainly appears that way, altho i dont remember the last time Quadravest did an offering on a split fund with the premium lower than 15%.
With nearly every stock in the fund up today, and the USD gaining vs CAD, FTN TRADING at a very low premium.
Even if the offering happens i doubt FTN will crash below the actual NAV for the commons.
navgod wrote: Quadravest running out of options. FTN and BK are only issues with Pref trading at premium BK issue two months ago while FTN's last issue was four months ago.I believe FTN's recent under performance ie shrinking premium over NAV is a result of issue expectations.
mouserman wrote: I suspect Quadravest will wait until the premium is much higher than 13%.... but who knows.
The preferreds are trading at a bit of a premium so maybe that will be enought to push another offering for the banks/lifecos in this split fund.
Been quite a few offerings of late, even from Brompton. Altho LBS was done at well over 20%
premium to nav.
navgod wrote: No reason to buy until after the inevitable new issue now over due. GLTA