PWK appoints ANZ as advisor to project runway

On Friday PWK announced that they had appointed ANZ Investment Bank as advisors to Project Runway. ANZ will act as a financial advisor and "provide assistance in identifying and implementing the debt and equity structure of Project Runway." Obviously PWK are committed to making the undersea cable from Guam a reality. I have no idea how much such an infrastructure project will cost but I assume it must be considerable if advisors need to be engaged to work out the funding requiremnts of the project.

This course will alter PWK's balance sheet and growth profile significantly. I may have jumped ship if it were not for the quality of management and their publicly stated commitment to not proceed with the project unless they have binding revenue generating contracts that make the project financially viable. These developments will be interesting to watch in the coming months.