Share
1,990 Posts.
lightbulb Created with Sketch. 303
clock Created with Sketch.
01/02/21
09:20
Share
Originally posted by utsstudent:
↑
gee new holders have an opportunity to buy in what will be the biggest wealth manager in australia courtesy of the pain that past holders ( particularly insti's) went through.. just think......they raised capital from insti's at $10.60 a share to fund the ANZ acquisition.......and at $3.50 a share last year to fund the MLC acquisition...... https://www.ioof.com.au/__data/assets/pdf_file/0017/300077/20171018-IOOF-Announces-Successful-Completion-of-A$461-million-Institutional-Share-Placement.pdf
Expand
Good point...here is a table that shows what we buy when the two acquisitions are excluded. So the market is pricing the net IOOF business at $436M. This business in 2017 and 2018 had a market cap of $3 Billion.