In FY 22, RSS operating EBITDA was only $140m. LNK got a mooted bid of $1.5B for RSS that didn’t materialise. For FY23, RSS operating
EBITDA will be at least $155M. RSS will likely grow its operating EBITDA in FY24 due to CPI increase, contract wins, increased members and growth in UK. At current share price, the Link share registry business is value at just zero.
LNK Price at posting:
$1.63 Sentiment: Buy Disclosure: Held
