Early Friday, Brookfield Asset Management issued a new series of prefs. This one was very unique in that it was a $25 par, retractable, redeemable, etc.
The unique feature was the issue price: $23.75.
Amazing; launching a new series of prefs underwater by $1.25 on issue.
A new low for this ABC, junk-style security.
This is an obvious IPO short. I believe it will open in the $22 range at the most.
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