Seems like asset managers tend to be valued between 1.5% and 3.5% their FAU. PPS is growing a lot faster than the AM industry but let's use 2.5%.
The Int'l business has $5bn in FAU. 2.5% of $5bn is $125m. Not sure if there's some tax leakage but if say PPS retain $25m to fund AUS biz and distribute $100 to shareholders, then we would get a nice c18% distribution ($100m over current market cap).
Does anyone disagree with the above?
PPS 5 year Target Price $5/Share, page-15
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Last
47.5¢ |
Change
0.005(1.06%) |
Mkt cap ! $228.9M | |||
| Open | High | Low | Value | Volume |
| 46.5¢ | 47.5¢ | 45.8¢ | $205.7K | 443.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 69928 | 46.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 47.5¢ | 31328 | 3 |
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| Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
| PPS (ASX) Chart |