Sold: 60% of FIRST REIT pre rights issue This company has been the thorn in my side for a while. For a number of years it's share price rose and the divided was tasty, but as we all know it has has gone down like the Titanic in recent months. My reasons for off loading just over half of my holdings before the vote are as follows:
Lippo have shafted First once and they could do it again.
I sold 60% and not 100% because the counter was down almost 80% and I wanted to leave some skin in the game for a speculative return to form in the future. Whether this will happen or not is in the hands of the gods.
First Reit's CEO talks straight and took part in the rights issue. Thus, who knows, maybe in the long term he can turn things around.
