RE:CADCDNThe second SIB will be much more effective than the first. There are clearly a lot of people who have soured on Dream Office since March and would like to exit their position at a smaller loss than has been offered since the March U.S. banking debacle started. This first SIB provides that.
The second SIB will need to persuade Dream Office bulls to part with their units. That could prove very expensive.
SNAKEYBOY wrote: How much shares you got of D.UN and you still waiting for $20+ to profit?
I really hope another SIB follows at $16ish when DIR is back up, cause owning 4% of that now makes very little sense.
And then based on 12x FFO multiple it becomes $35-40, and only ~2 million shares or so that are noninsiders owned. That would be the best scenario for us shareholders.