A director purchased shares on September 8th, so a near-term cap raise seems unlikely (but not impossible, of course).
The share price has taken another leg down very recently. At current valuations, GDI could sell Westralia Square I at, say, a 10% discount to the most recent independent valuation ($371m*.9 = $334m) and buy the entire/remaining company on market (at current trading price of 60c per share).
GDI's portion of the Autoleague portfolio is worth $137m, and I suspect GDI would get that price if they put it on the market (CPI + 1.0% rental escalations).
With circa $137m, they could pay down $50m debt (reduce debt by 15%) and activate a pretty impactful on-market buy-back with the rest. The current market cap is only $321m.
Based on the earnings call in August, I'd say the market is disappointed that management is pursuing investment opportunities (mining accommodation joint venture), rather than activating an on-market buy-back.
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Last
62.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $332.5M |
Open | High | Low | Value | Volume |
62.0¢ | 63.0¢ | 61.0¢ | $403.3K | 648.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 9591 | 62.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
63.0¢ | 141849 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 3591 | 0.620 |
2 | 30000 | 0.615 |
4 | 81274 | 0.610 |
1 | 25000 | 0.605 |
1 | 50000 | 0.600 |
Price($) | Vol. | No. |
---|---|---|
0.630 | 141849 | 2 |
0.635 | 14548 | 3 |
0.640 | 23548 | 4 |
0.645 | 14548 | 2 |
0.650 | 73267 | 3 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
GDI (ASX) Chart |
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