Back of the envelope stuff, but sale of the stake results in an estimated net gain of $29.9mn for NEC, so likely a small positive for the share price. NEC market cap is currently about $850m.
Calculation: 10% of 769mn shares SXL outstanding shares = 76.9mn shares x (sale of price of $1.54/share less cost of price of $1.15/share) = $29.9mn
News: NEC Nine Entertainment sells its entire stake in Southern Cross Media, page-2
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Last
$1.36 |
Change
0.010(0.74%) |
Mkt cap ! $2.132B | |||
| Open | High | Low | Value | Volume |
| $1.34 | $1.36 | $1.32 | $1.157M | 863.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 37 | 81700 | $1.35 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.36 | 37937 | 27 |
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| Last trade - 15.08pm 10/07/2024 (20 minute delay) ? |
| NEC (ASX) Chart |