RE:Did the math on IPL --> BIPC soooo ... I had 1000 IPL before tendering to BIPC.
Didn't get 250 BIPC shares as expected because the offer was prorated.
Ended up with 226 BIPC shares and CAD$ 1867.62.
Seems like a bad deal after the fact. Anyone else have a similar experience?
How did you get such prompt service? Last time I did an exchange like that it took 3-4 business days to show up.
So that's already not looking good for me and my 1000. I'm into IPL at $22.79 average so I have to get out of BIPC at about $91.17 including comm. Your experience tells me there's huge commissions being paid on the swap because your cash balance adds up to about $77 a share. That means if I get similar treatment, I'll be looking for about $102 before I'm not underwater any more.
Just another reason to never be anywhere near any Brookfield equity - ever.