Sale of 85 million worth of BK preferred sharesI just sent the following questions to BK IR:
I suppose the proceeds of the recent sale of 85M of preferred shares will be used to buy more shares of the banks in the portfolio, thus boosting the total assets under management, Because the number of Class A shares has not increased, does that mean that the NAV per class A share will increase? Current market size of BK is estimated at 262M, this the 85M sale would boost that by 30 %? Thank you for your help.
Dr K W Schwager, PhD