Ann: PGL Trading Update Q4 FY23, page-5

Selling 15,000 shares @ $0.27? Hummm, someone is pushing this SP down. Wonder why... It is quite shocking to see a lender with a $780mio book at 27% NIM and 12.7% credit provisions be worth $44mio... Even with say 5% brokerage costs, the net NIM would be something like 10%. Don't know what the adequate multiple is but that values the company at about 50% of annual net NIM... It's definitely not priced in as a sustainable business... Updated my sentiment to Buy until I figure out what I am missing...