Australia's largest stock trading and investment forum Australia's #1 stock forum

CEH

Click for more information

1.09%

46.5¢ coast entertainment holdings limited

Ann: Ardent Leisure enters into partnership transaction, page-26

First 26 Last

Share
Profile

Follow
tobiasroy

4,605 Posts.

981

16/06/20

09:16

Post #: 45241600
Share

Originally posted by mrposhman: ↑

I think people were reading it as a valuation of US$424m but not taking into account that this was related to EV and not equity value.

From my calcs (and I assume that they will have drawn down much of the debt now) that the equity portion of Main Event in AUD is around $220m, still that values Dreamworld at nothing (may well be the case I suppose being as its not yet recovered to a profitable level).

I like the announcement, the initial investment is higher than the annualised H1 2020 Proforma EBITDA at 9 times value so they clearly see high value in Main Event (H1 2020 proforma EBITDA was A$16.8m, doubled to annualise and then multiplied by 9 is A$302.4m). At that same level the investment would have only been somewhere around US$50m but they have invested US$80m so must be confident in a rebound.

The one bit though that worries me a touch is that this is stated as a preferred equity investment, which suggests that they will be preferred shareholders hence over and above ALG's investment in Main Event. There is certainly some risk that comes with that.

I've been a quiet holder for a while but this announcement resparked my interest.

Expand

Maybe back to 0.60 today and more later in the week?

ALG Price at posting: 45.5¢ Sentiment: Buy Disclosure: Held
5 Upvote

0 Great analysis

Reply

Top Stories

CU6

Clarity progresses SECuRE trial with positive safety results

ASX Market Open: Local bourse to trade green | Thursday September 12

MTM

Forget gallium: MTM says it's extracted gold from e-waste

DXB

Dimerix begins recruiting young kidney disease patients in Mexico for Phase 3

3 stocks with antimony news on Thursday

NEC

Nine Entertainment announces its CEO is stepping down – on an ex-divvy day

GTR

GTI extends uranium mineralisation at Lo Hema through development drilling

CHN

Chalice jumps on Putin nickel export ban threat – but then there's bad news

BRX

Belararox to grow copper footprint in Botswana with 4,286 square km tenure

SS1

Sun Silver confirms high-grade extension theory at Maverick Springs with 79.6 g/t intercept

There are more pages in this discussion • 14 more messages in this thread...

First 26 Last

Add CEH (ASX) to my watchlist

(20min delay)
Last 46.5¢		Change 0.005(1.09%)		Mkt cap ! $200.7M

Open	High	Low	Value	Volume
46.5¢	47.0¢	46.0¢	$69.66K	149.5K

Buyers (Bids)

No.	Vol.	Price($)
2	5021	45.5¢

Sellers (Offers)

Price($)	Vol.	No.
47.5¢	34343	1

View Market Depth

No.	Vol.	Price($)
2	5021	0.455
4	54457	0.450
1	37000	0.445
1	53000	0.440
2	52000	0.435

Price($)	Vol.	No.
0.475	34343	1
0.480	30000	1
0.495	43594	2
0.500	100766	2
0.510	144652	2

Last trade - 16.10pm 13/09/2024 (20 minute delay)

CEH (ASX) Chart

SPONSORED BY