Concept stock orphan, page-78

Westfield has allocated 350 million USD and not AUD to OMN to date, right? In AUD it should be closer to half a billion dollars. My information source is page 4 of the special purpose financial statements, which show "Proceeds from invested capital from parent" to be $321,619,000, $41,055,000 and $9,442,000 in 2017, 2016 and 2015 respectively. All amounts are in USD.


I wonder how long OMN can continue to trade at a 40%-50% discount to net cash backing. They should have around $1.80 per share in net cash right now. I feel like they're one market correction from a corporate raider emerging with a large stake purchased in the 70's-80's cents range, who can then follow up with a takeover bid at say $1.10. After sacking the board and winding up the operations, there should still be a healthy cash pile left I think (though not 100% sure on windup costs). A quick and easy profit for the raider. Though I have to admit, I'm not too familiar with takeover dynamics so am not super confident about the validity of this thesis.