Watch This Space, page-5295

The APT take over has validated share prices in the BNPL sector. Basically APT has been paid 130% of current MSV run rate.

Applying that approach to SPT reduced because SPT is of lesser scale to 100% of MSV you might see SPT increase rapidly over the next few weeks.

If the Board gives guidance at end of August that MSV will increase beyond the current A$500m reported in the webinar last week the share price should be materially higher than today.

Using the $500m MSV run rate should place the company’s value at $500m plus which means the share price is 2.3 x under valued. The share price should be $1.03 if APT transaction is comparable with a discount.

If the pipeline work done by the company lifts MSV to $1b by December quarter (just a possibility IMO) the share price should be above $2 by December.

The APT transaction validates the sectors value.

SPT should clear out traders and short holders with the APT news and should start its re-rate journey.