Not quite sure about that logic. The Alleasing Trust is guaranteed until 2009 and a non payment of coupon would be a default and the guarantee would be called. Its unclear as to whether the principal is guaranteed. So somebody selling at $1 is assuming a very low probability of gettign paid a portion of the $16 of coupons to be paid since March. Particularly given that none of hte senior banks had written down their senior secured exposure to AFG which indicates that the company has some equity. By the way the selling brokers during the week that AHUG traded below $7 were all retail brokers, so I think you are having your chain tugged by the fund manager you talked to .
AHUG has some instrinsic value and is currently in the process of being sold. It may well be worth more than the current price.
Whether AFGHA ranks ahead of the Alleasing Trust guarantee in liquidation remains to be seen
afgha, page-17
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Last
$1.43 |
Change
0.040(2.89%) |
Mkt cap ! $385.8M | |||
| Open | High | Low | Value | Volume |
| $1.38 | $1.43 | $1.38 | $1.476M | 1.056M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 9093 | $1.42 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.43 | 1180 | 1 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| AFG (ASX) Chart |