QR National share offer opens

IN what some would term “the great train robbery” began in Brisbane on Sunday with the launch of the share offer for the Initial Public Offering of QR National.

The Premier said the price range for the QR National Share Offer was between $2.50 and $3.00 a share, with individual investors to pay no more than $2.80 per share.

Launching the QR National Share Offer ahead of its planned listing on the Australian Securities Exchange (ASX) with QR National chairman John Prescott and managing director and CEO Lance Hockridge, Ms Bligh said QR National was expected to be one of the nation’s 50 largest companies listed on the ASX.

“The Share Offer for QR National is officially open, with more than one million Share Offer Documents set to make their way across Australia from today,” Ms Bligh said.

However, Opposition LNP Leader John-Paul Langbroek has asked why should Queenslanders be asked to buy into something they already own?

“Labor are going to sell-off this large chunk of Queensland Rail, forever, simply to pay 18 months of interest on the state debt that is rocketing up to $85 billion,” Mr Langbroek said.

“The pursuit of privatisation proved Bligh and Labor still weren’t listening, and have no intention of listening, to Queenslanders.”

From Friday, a copy of the Share Offer Document will be available at any CBA in Queensland.

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