agree in total--something is in the wind total fascility is 862.5mill,as afg is the finance hub, as assets are sold down residual funds reduce the bridging balance,each arm holds on to profit eg reu selldown
it concerns me they may have an offer in the wind,which will dilute share base, after all to create a viable entity the banks charge over assets must be withdrawn.
assuming the 400mill target is remainder ,any party making an offer to cover this would have the opportunity of partnership/takeover,this is the happy end of the equation the unhappy end would be a total selldown by the banks leaving scrip holders with nothing
creates uncertainty,the libor margin is no great concern in the short term
i bought more last week,naturally i am concerned at my level of exposure.
but fail to see how afg can not be profitable over the medium term and beyond, the residual 562.5mill is the critical component,time is of the essence
AFG Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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