Good Shares to Buy

Wesfarmers (WES) has announced a $2.5 billion pro rata entitlement offer to conclude the refinancing of the bridge loans used to facilitate the Coles Group Acquisition. It will raise the funds via a fully underwritten 1 for 8 Accelerated Renounceable Entitlement Offer at an issue price of $29.00 per new share. For detailed information on the announcement, please refer to the WES announcement on the ASX website or contact Computershare (Wesfarmers share registry) directly.

The offer price of $29.00 represents a discount of 22% to the closing price of WES ordinary shares on the ASX on Wednesday 16 April 2008.  So if you’re a WES shareholder, you’ll be offered the opportunity to buy one new share for every 8 WES shares you currently hold.  Example: If you hold 1,000 WES shares, you will receive an entitlement to 125 shares at $29.00 per unit (a total of $3,625). The rights issue closes on 20 May 2008.