1987 – Year of the shrinking market?
Peugeot treasurer John Lindon faces a dilemma: should he come to the Euromarket with a rights issue before the privatisations of Saint Gobain, Paribas and AGF, when he can take advantage of a liquid market, or later when investors have fully appreciated the company’s first-half 1987 performance?
The timing will be crucial. “Our financial advisers have been telling us to go sooner rather than later,’ he said. “It’s obvious that there’s going to be less liquidity at the end of the first half next year.’
But Lindon feels that Peugeot should avoid jumping the gun: “We’ll be taking a risk by waiting, but we’ve been premature with other issues.’
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