It will be rerated once the drought breaks which could be soon by the looks of the recent rainfall. 1.75? easy imo especially if they get a takeover offer which would probably be the best thing since the AWB name has been tainted.
In the meantime it's fun trading the swings. Back in today at 1.18 although it's risky because the issue was undersubscribed and shorters will try to use that to their advantage.
On the hand they certainly have a much better balance sheet now and it went to 1.58 recently like a rocket.
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