I am not sure why the share price is down where it is. The financials for the first 3months were not that great ($.03/share CF which is only $.12/year - BUT that was before they completed the financing and purchased some great properties look for MUCH improved financial results from now on which will be reflected in the share price).
This news just in, a further 825K shares issued at $1.85
Bob
ÿÿÿÿ INTERNATIONAL PROPERTIES GROUP COMPLETES ISSUANCE OF 825,000 COMMON SHARES Wednesday, October 1, 1997
ISDN Wire Service
CALGARY, ALBERTA-- International Properties Group Ltd. ("IPG") is pleased to announce the completion of the purchase and sale of an additional 825,000 common shares at a price of $1.85 per share, for gross proceeds of $1,526,250 pursuant to the partial exercise of the over-allotment option granted by IPG to C.M. Oliver & Company Limited in connection with the recently completed offering of 14,800,000 common shares of IPG. It is expected that the balance of the over-allotment option granted to C.M Oliver & Company Limited will be exercised in full.
IPG is a fully integrated real estate corporation that focuses primarily on multi-family real estate in selected North American markets. IPG has three operating divisions: the Property Ownership Division - which has acquired 1,502 units, the Property Management Division - which manages 2,601 units and the Condominium Conversion Division. IPG maintains offices in Vancouver, British Columbia, Calgary and Edmonton, Alberta and Toronto, Ontario and is listed on The Toronto Stock Exchange and The Alberta Stock Exchange under the trading symbol "IPX".
CONTACTS:
David E. Steele Philip J. Carroll
Chief Executive Officer President
Tel: (604) 683-3366 Tel: (403) 233-7466
Fax: (604) 669-4507 Fax: (403) 266-2256
THE TORONTO STOCK EXHANGE AND THE ALBERTA STOCK EXCHANGE HAS NEITHER APPROVED OF THE INFORMATION CONTAINED HEREIN.
c ISDN Wire Service - 1997 |
