Brookfield Property Partners L.P. BPY

Brookfield Property REIT Oversubscribed

[TickBomb]

Looks like Brookfield issued news to tell people to convert their shares from the REIT to BPY.UN if they want to subscribe to the SIB.  The REIT only had a 9M share call up and they were at 11M.

[dileas48s]

Link: https://www.sec.gov/Archives/edgar/data/1496048/000110465920094376/tm2023097d13_ex99-1.htm

[rad10]

Good - more shares cancelled the better!  

[BlueJay2020]

Also good if it means weak hands are no longer holding the stock.  Mystery to me why you would want to sell out at US$12 ... but each to their own, I guess. I suppose with the over-subscription, there will be some left with a rump of 10% of their holding which we they will want to liquidate, so there may be a bit of downward selling pressure over the next little while. The big question is

[Jsboutin]

To be clear, the shares will in effect be transferred to BAM as this is funded from BAM funds. You will still own the same % of the company.