Brookfield Property Partners L.P. BPY

New SIB at 12USD/share

[Jsboutin]

BPY just announced a new SIB for up to 74.2M shares at 12 USD/share.
https://bpy.brookfield.com/press-releases/2020/07-02-2020-115030154

[Capharnaum]

Will be interesting to see how many will sell. That's too low for me. I could have been interested at 15 USD/share.

[Jsboutin]

Interesting for me too. I feel like they would have had a better chance to fill at 15. The interesting bit here is that this is funded with BAM equity. Edging closer to a privatization bid I reckon.

[Capharnaum]

I agree that it's another step towards privatization. That offer will sting for anyone who had a short open... Pre-market is at $16.

[Vette08]

Thanks for letting us know.... Bruce Flatt is taking aim and this is a transaction where BAM is sinking their teeth in slowly.  And interesting how BAM is utilizing other BAM investor funds to fund the transaction. Just imagine if this bid gets filled at US$12 and they could not fill a much smaller bid at US$21 a short time ago.  If it does get filled, expect a privatization bid at

[NPCexe]

Hey guys, New investor here. So if they announced this at 12USD why would anyone sell their shares under 12 today? Why not convert into units and get 12/share? Didn't get why it didn't open close to 12 today. Thanks in advance!

[RagingBull3]

???? Wouldn't the Preferred shares need to be redeemed first???? such as BPO.PR.A and all the others????  

[Vette08]

No not at all. In the event a preferred was redeemed, such as BPO.PR.A,  its redemption price is $25 and it trades today 50% lower.  Lol.

[RagingBull3]

hmmmmmm....  don't understand so for me, I'm sitting on the fence.   Was thinking about investing in the Preferreds but now this.