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GPT had to raise capital at very cheap unit prices to repair its balance sheet (pay off debt) after some very poor investments choices pre GFC. It was one of many property groups in this situation. The conversion restores a blue chip look of respectability to the unit price and helps to erase the memory of a very dark chapter in its long history.The conversion in itself does not change the value of your holding.
GPT had to raise capital at very cheap unit prices to repair its balance sheet (pay off debt) after some very poor investments choices pre GFC. It was one of many property groups in this situation. The conversion restores a blue chip look of respectability to the unit price and helps to erase the memory of a very dark chapter in its long history.
The conversion in itself does not change the value of your holding.
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