The massive discount is because of the options over hang. Time and time again LICs who offered these 'bonus' options traded around the bonus issue price even when the fund performed well. The market was pricing in all of these options being exercised. They've done the right thing underwriting these, as it will only help with liquidity over the long term.
I dont like Contango & Switzer either... they are everything that is wrong with the industry, but at least in this case they've outsourced management to capable managers.
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Last
$1.56 |
Change
-0.010(0.64%) |
Mkt cap ! $274.4M |
Open | High | Low | Value | Volume |
$1.57 | $1.64 | $1.56 | $444.7K | 277.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5000 | $1.57 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.62 | 10529 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5000 | 1.570 |
1 | 10000 | 1.560 |
1 | 6000 | 1.555 |
1 | 2500 | 1.550 |
1 | 200 | 1.540 |
Price($) | Vol. | No. |
---|---|---|
1.620 | 10529 | 2 |
1.650 | 5002 | 2 |
1.660 | 5000 | 1 |
1.670 | 20000 | 1 |
1.995 | 4990 | 1 |
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