AIMS in the announcement: "Given AREOF’s great performance since inception in late 2017..."
So, APW invest $19m in AREOF in Dec-17, book an 'instant revaluation gain' of $1.3m on purchase of units in an associate, and come the latest Jun-19 financials the carrying value was $20.2m.
This is equivalent to an annualised return on book value of 4%, all of which comes from that bargain purchase trick.
Come on guys "great performance" - giving yourself a pat on the back for taking out some disgruntled unitholders in another one of your own vehicles at a discount to what you believe the assets are worth.
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Ann: Investment in AIMS Real Estate Opportunity Fund, page-3
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$1.53 |
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Mkt cap ! $68.11M |
Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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1 | 10000 | 1.150 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
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Price($) | Vol. | No. |
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1.550 | 3488 | 1 |
1.600 | 21800 | 2 |
1.620 | 3334 | 1 |
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