SP will prob take a hit as low as 90c until we get a positive NTA. Options will offer some protection as it would be surprising to see them trade less than 10c.
If the NTA sees significant appreciation in the first year and NTA discount widens due to Option overhang, I'm sure a large dividend will be paid out similar to the HML play, forcing people to exercise the options.
I'm very excited about BHD and believe there will be some great opportunities going forward.
On a separate note,
HML currently looking like a good value buy given the large discount to NTA.
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HML Price at posting:
$1.64 Sentiment: Buy Disclosure: Held
