KAR Enterprise Value profile @ time of GOM Acquisition:
MC - A$1.64b (based on SP of $2.05)
Cash at Bank - US$80m (A$121m)
US Debt - US$300m (A$455m)
Petrobras Deferred Acquisition Liability - US$220m (A$333m)
Imputed EV: A$2.307b
KAR EV profile @ 30Jun24 (7 months after GOM acquisition):
MC - A$1.5b
Cash at Bank - US$400m (A$606m)
US Debt - US$300m (A$455m)
Petrobras Deferred Acquisition Liability - US$132m (A$200m)
Imputed EV: A$1.549b
Exchange rate of 66c used.
Does this imply that the KAR SP should be $3.05 ($2.05 X 2.307 / 1.549) at 30Jun24?
I must have made a mistake here but I just can't find it. Logic error?
The 30Jun24 Cash at Bank is questionable. Especially given GOM earnings will likely be retained by the JV to fund US$120m (our share) in future CapEx.
Strap in. Lift off., page-279
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Last
$1.83 |
Change
0.050(2.81%) |
Mkt cap ! $1.466B | |||
| Open | High | Low | Value | Volume |
| $1.80 | $1.84 | $1.79 | $8.392M | 4.606M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 6282 | $1.83 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.83 | 79500 | 3 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| KAR (ASX) Chart |