Ann: KBC: Keybridge intention to scrip-bid RNY Property Trust, page-5

  1. 916 Posts.
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    No horse in this race.

    I thought the actual premium (to last price) was 120%. For the premium to be 220%, the offer would need to be 1.6c.

    Of course, the latest accounts show 4.7c in book value. The actual discount (to last book) would be 77%.

    I have heard of a discount for illiquidity, but this is next level.
 
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