TSX:ENB - Post Discussion
Enbridge Inc
> Terminated "at the market" equity issuance program
Post by
Obscure1 on Aug 02, 2024 9:54am
Terminated "at the market" equity issuance program
Hidden well down the list of highlights was:
* Completed the Acquisitions funding and terminated the Company's at-the-market (ATM) equity issuance program; returning to an equity self-funded model
Take aways:
* The beat down of the share price following the ATM announcement was all for nothing.
* The recent strength in the share price tells us that people knew already
* ENB has already taken most if not all of the hit for the funding of the acquisitions in terms of a greater number of shares outstanding and absorbing acquistion costs without the benefit of cash flow from the aquisitions. This is not a surprise but it is good to have it behind us.
Be the first to comment on this post