The next catalyst for adjusting the NAV would be seeing either a large shift in a boutiques FUM growth or a sale of a boutique above book value.
the capitulation of the $AUD does make a argument for a higher price near or above the $13.
my initial questions / thoughts are
- would a independent expert set the buy back price or is that relied upon by the board, hopefully independent directors.
- is river capital going to partipicate in the buy back or is this their way to take control of the company by increasing their ownership % by not selling any stock.
- liquidity in the stock could dry up now for the next 4 months, with no serious sellers willing to off load on market or do some arb funds look for a quick trading opportunity.
- post EGM result and change of manager structure, it would be prudent to announce to the ASX, EPS guidance given a large amount of operating expenses is stripped out, but this more a Fy25 issue and I guess it will be radio silence until the August results.
- being a cynical investor, I'm not convinced the buy back price will be much higher than $11.
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Last
$10.90 |
Change
0.020(0.18%) |
Mkt cap ! $568.9M |
Open | High | Low | Value | Volume |
$10.95 | $10.95 | $10.73 | $202.8K | 18.71K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 118 | $10.73 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$10.90 | 14905 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 500 | 10.680 |
1 | 2500 | 10.670 |
1 | 1000 | 10.310 |
1 | 500 | 10.260 |
1 | 150 | 10.200 |
Price($) | Vol. | No. |
---|---|---|
10.900 | 14076 | 2 |
10.990 | 1030 | 1 |
11.000 | 3000 | 2 |
11.050 | 787 | 2 |
11.340 | 14000 | 1 |
Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
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