where to aed, page-16

guys, aed will not be issuing any new shares, they simply are selling equity in their assets.

i suspect aed will get about $400m for 70%

this values aed at 400/0.7 = $570m

now aed has about $300m in debt, which leaves $270m of equity value. divide that by 150m shares on issue, is about $1.8 per share.

given aed will no longer be in a distressed position, i expect it to trade at a premium to this 'fire sale' valuation.

i'm expecting a re-listing price of about $2.20 to $2.30 per share.