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Shares Held: 75
Date Purchased: 23-Dec-98 (average unweighted-by-date)
HPD paid: $40.08 (average)
Currently Trading: $ 76 13/16 @ 12:35pm est, 12-Apr-00
Percentage Gain: 91.65%
Annualized Return: 64.67% (using average purchase date)
Strong Buy 8
In the news:
A court in Brazil ruled against minority shareholders (including
AES), taking away veto rights. The case will be appealed. Meanwhile,
a bill to boost minority shareholders' rights is expected to pass the
Brazilian legislature, and be signed by the President.
AES Panama Energy is set to build a $192.7 million hydroelectric
project starting July.
In the UK, the power industry is being asked to adopt a
controversial``market abuse'' condition in their licenses demanded by
industry regulator Ofgem. It appears all but AES and British Energy
have signed on. Failure to adopt the amendment may lead to a
Competition Commission inquiry (legal hassle).
Also: Gary and I will attend the shareholders meeting next Tuesday. I
have already sent in a proxy vote to authorize additional shares
(read eventual split) for AES. Maybe there will be some interesting
news. I'll keep you posted.
See you Sunday.
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