It'll be interesting to see what the NAV of the business will be in the FY acccounts, a significant loss from trading due to the 20% interest rate plus undoubtedly a write down in PDL's the headline numbers won't be pretty.
Even after any refinancing shareholders will still have no idea as to the underlying profitability of the business. As an investment other than as a bottom feeder it has no merit IMO. It would undoubtedly get a significant bump if it did relist but no way it would get anywhere near the Carlye offer price. I wouldn’t be surprised if it was still sub $1 a month after relisting, assuming of course it it ever does.
PNC Price at posting:
28.5¢ Sentiment: None Disclosure: Not Held
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