KKR owns 63% of LFS - with Shinsei owning 9.6% - so I assume both are happy with this deal and the issue of new LFS shares at (estimated) $2.00 price.
They dont need to do this - obviously see value in BNPL upside via HUM
I am assuming this is just the first offer - you need this to flush out others (if any)....
The Residual in HUM can be easily sold and the LFS shares dis tributes in specie - Mabye $1.10-$1.30 of value in 6-9 months - discount of 30-40% seems high, my guess Hedge Funs will analyse over next few days and if they like the risk reward will soak up volumes below (say) $1.00 - worst case they can hedge the look through LFS holding and have the residual business running at (88-63) at 25 cents or (25*495m shares) = $125m M Cap (needs more analysis for EV).
I really like this opening salvo and am a holder even a speculative buyer at these levels.
DYOR GL
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Last
44.0¢ |
Change
0.015(3.53%) |
Mkt cap ! $216.2M |
Open | High | Low | Value | Volume |
42.0¢ | 44.0¢ | 42.0¢ | $180.1K | 422.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 74794 | 43.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
44.0¢ | 10218 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 74794 | 0.430 |
2 | 48619 | 0.420 |
2 | 102974 | 0.410 |
6 | 154770 | 0.405 |
7 | 98522 | 0.400 |
Price($) | Vol. | No. |
---|---|---|
0.440 | 10218 | 2 |
0.450 | 2008 | 3 |
0.455 | 20001 | 1 |
0.460 | 42168 | 3 |
0.470 | 12000 | 2 |
Last trade - 16.10pm 04/07/2024 (20 minute delay) ? |
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HUM (ASX) Chart |