RE:Will cur. shareholders will receive shares in IPO?Mart:
As they explained it ... this is not a spin-off ... like they did with Primaris (PMZ.un) ... in which assets were devolved to the new entity and unitholders received units of the new REIT.
In this case, this will be a stand-alone development LP ... and HR.un will hold significant units. The units up for market via the IPO have not presumably been priced yet ... cuz no details were given re pricing and anticipated returns.
The question that I cannot answer ... is ... does this move represent value for HR.un unitholders? Obviously they are selling it to us as a positive .... but throughout the REIT's history they have sold us on many initiatives that were promising to payoff biggly ... and I am still down 20+% on ACB. So there is that to consider! Take everything they say with a huuuuge grain of salt!
Cheers!