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Simon Property Group Inc T.SPG


Primary Symbol: SPG Alternate Symbol(s):  SPG.PR.J

Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages premier shopping, dining, entertainment and mixed-use destinations, which consist primarily of malls, Premium Outlets, and The Mills. It owns or holds an interest in approximately 195 income-producing properties in the United States, which consists of 93 malls, 69 Premium Outlets, 14 Mills, six lifestyle centers, and 13 other retail properties in 37 states and Puerto Rico. It also holds an interest in 24 regional, super-regional, and outlet malls in the United States and Asia. In addition, it has redevelopment and expansion projects, including the addition of anchors, big box tenants and restaurants, underway at several properties in the North America, Europe and Asia. Internationally, the Company has ownership in 35 Premium Outlets and Designer Outlet properties primarily located in Asia, Europe, and Canada.


NYSE:SPG - Post by User

Comment by atcanadaon Jan 10, 2022 11:47am
198 Views
Post# 34300053

RE:RE:RE:Gameplan for SPG.RT Shares

RE:RE:RE:Gameplan for SPG.RT Shares

Hi Frank - 

Yes the 26th is the Deadline. Probably better to call your broker a few days before if you plan on exercising your Rights just to make sure it is done correctly. US brokerages and US residents notoriously have a very difficult time participating in TSX-listed RIghts Offerings but I think you said you were with WealthSimple... it might be worth giving them a call now to make sure you can talk to someone that understands the Rights process and is able to execute your request should you choose to - this may be my ignorance but I thought a lot of WealthSimpe was Robo-etc so I'd want to make sure prior to the last minute.

I think your analysis of SPG makes sense. Part of that sell-off was surely due to the disappointing and dragged on Strategic Review that has been on&off since early 2020. The goal was to maximize shareholder value (sale, financing, strategic partner, etc/etc), so when the solution is asking for capital from existing shareholders through a Rights Offering it is an obvious disappointment.

I think your right that often Rights Offerings end up pushing the stock price towards the Exercise Price and could potentially be skewing it downward in this scenario. It's impossible to say definitively but it seems like that is a reasonable explanation to me and I'd probably agree. 

All the best - good for you taking up investing during Covid.

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