brm merger with wni

Wah Nam are in control of the board and running the show. I'd say pretty soon we'll see a merger announcement of Brockman and Wah Nam. And, to no surprise it will of course be approved by the new board and recommended to all shareholders.

Wah nam assets:

55.33% * Brockman ($281m) = $155.47m
1.15% * Atlas ($2,526m) = $29.04m

total: $184.51m

Wah nam value: $184.51m
Wah nam market cap: $514m

514m / 184.51m gives:

Wah nam valuation premium: 278.57%


If we have a merger with Wah Nam then I expect the 'Wah nam valuation premium' to apply to BRM as well.

Brockman market cap: $281m

This gives us a BRM market cap of 782.79M ($281m * 278.57%)


So based on the current SP of around $2 I would expect abount $5.57 share price upon the announcement of a merger with Wah Nam!

Have I missed any Wah Nam assets in my calculations? Happy to be corrected. :)