MAP 0.00% $2.79 map group

...nice rise

  1. 1,035 Posts.
    SYDNEY, Oct 24 AAP - Macquarie Airports Ltd's securities flew
    higher today as investors continued to embrace strong first quarter
    results for its Sydney and Bristol airports.
    The stock, which hit an all time low of 82 cents last week, was
    four cents higher at 97 cents by 1452 after earlier hitting an
    intra-day peak of 95 cents.
    Brokers said MAP had been steadily rising since the group
    announced on Monday strong results for its Sydney Airport and
    Bristol Airport investments.
    "The figures out of Sydney Airport were much better than
    expected and there's been some figures out of Bristol which were
    positive," one broker said.
    "So that's underpinned the price again today."
    Meanwhile, MAP said that it had received and processed more than
    $495 million of the total $500 million payable in respect of the
    final instalment payment on partly paid MAP securities.
    Earlier this month, MAP revealed it had a $15 million shortfall
    in collecting the final payments for its securities from its $1
    billion float in April.
    Investors were meant to pay for their $2.00 securities in two
    tranches, with the first $1.00 payment due in April and the second
    dollar on October 1.
    Today, MAP said investors who had not paid the second instalment
    will have to forfeit their securities unless the outstanding money
    is paid in full.
    The outstanding securities will be auctioned on November 7.
    AAP

 
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