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The GEO Group, Inc. Message Board

  • fivekill fivekill Feb 20, 1998 10:42 PM Flag

    ******NEWS JUST OUT*****

    JUST ANOUNCENT< corectional properties reit being formed..
    IPO, 6.2 MILLION SHARES WITH the purpose
    of buying 6 properties from whc with option for three more..
    smith barney will be a underwriter..

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    • how long will it take to form this reit ? cca did the same with pzn. it opened at 21. now going for 44. or so. if they, {
      whc} do this it should do the same as pzn! i got stuck out on pzn when it opened up at 21. by the end of the day was in the 30's.
      do you have any information when it will come ? i will buy plenty this time ! got stuck out the first , don't won't to get
      stuck out this time!! this is a great time for whc to do this . look at pzn , if i had bought in the first day at 21. would have
      double my money by now! in seven months !!!! i feel this will do the same. let us know when it first opens up! this is GREAT NEWS!!

    • I read the news release but don't understand what it means to whc. Is this good news or bad? why would whc be selling these properties? Any insight would be appreciated. Thanks!

      • 1 Reply to moroon
      • When cca formed its reit i wondered to why would they sell
        their prison , for what purpose , how would they benifit..
        The answer and purpose is this: whc, most likley will be running
        the reit, their ceo"s and board members will probably be on the
        new REIT board...
        Building prisons is capitol intensive,in order to win the big
        contracts you need a lot of cash so you can make local goverments offers they can"t resist, ( dont worry you ain"T got
        run it) you just give us a nice long 25 YEAR CONTRACT.
        In selling their prisons to the reit they will in turn lease the
        prisons back for a fee, and still maintain the contract to run them for lets say a 25 year contract.. also obtaining maybe
        $$$300 to 400 million in the sale, this capitol would be on hand to win
        new contracts, and bulid new prisons!!!!
        NOW how do we get shares before it goes on the open markett, they say it may be almost impossible, this offering
        i assume will be very much in demand because of the sucess
        of PZN REIT.. ONLY THE BIG FISH MAY GET IT,we may have to wait till the first day on the markett..
        whc, should be in a much improved financial condition
        analyst may now upgrade stock and hopefully we can make
        some money on whc..

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