From another Afr article "If you just look at it from a...

From another Afr article
"If you just look at it from a back-of-the-envelope perspective, Lendlease has about $10 billion in total funds employed (about $4 billion invested capital in funds management, $7.2 billion in development and a negative $1 billion in construction). Its enterprise value is about $8.5 billion ($4.4 billion market capitalisation, $4.1 billion net debt), suggesting there’s a missing $1.5 billion somewhere. Fund managers say that’s assumed future development losses."

I was a shareholder before.... Hoping to re enter... any ideas what is the real value here? Book value and NTA lot higher than current sp.

glth & dyo