Does it make sense to buy FTN shares now. If you buy 100 now, then on Dec/17 they consolidate meaning you now have 40 shares (you get .4 of a share for each shared own pre-consolidation).
Not interested in taking a 60% hit in my shares. I concede that that shares will likely rise on dec/17 post consolidation but I don't think enough to make up for 60% reduced share count.
I think better to buy after consolidation.
Quadravest made a bad move to do this now to shareholdres just when the banks are revovering now and likely would make the Nav/unit 15 target to reinstate a dividend within about 3 months potentially.
There is an argument for shareholders to sell now and take the tax loss then sometime post consolidation buy them back if you want the dividend.