Trizec Corporation is a real estate...

Trizec Corporation is a real estate developer with assets of more than $35 billion in Canadian and U retail midmost points and office properties-including interests in 82 income-producing properties involving 53 million sq ft of space. At the time the stock was studied in the March/April 1991 issue, the company had across $ 11 billion in assets and interests in 175 million sq ft of space-and the stock was trading at $1163

During the five fiscal years ending October, 1990-before the stock was a Stock To Study-Trizec's assets and rewards had grown quite consistently at an annual compromise rate of greater than 15% while cash liquefy per share grew at 10% Following "difficult" years in 19911992 and 1993 when the company could not service its trespass the company's stock dropped steadily to just pennies for share. In 1994, the company was recapitalized with the infusion of cash from The Horsham Corporation. For their "ordinary shares," former shareowners received 0030368 of a Class A Warrant forward new "common shares" and 0010902 of a Right. At a latter price for the warrants of $150 a shareowner is left with $005 of value. Shareowners misspent essentially 100% of their investment in what was regarded as a Canadian "blue chip" stock.

Copyright Canadian Shareowner Magazine Inc. Mar/Apr 1996

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