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

MFG

Click for more information

0.21%

$9.49 magellan financial group limited

While the share price sits at a significant discount to NAV, the...

First 36 Last

Share
Profile

Follow
rcs1359

767 Posts.

85

30/03/21

21:55

Post #: 52155746
Share

Originally posted by KerrodT: ↑

Not quite correct.

1. Partnership offer closed on 23 February and raised ~$780M
2. Options issued under the "Partnership Offer" and the "Bonus MGF Options Issue" totalled 1,069,524,485 and are currently traded on the ASX as MGFO. These have all been allocated to holders and all holders should have received confirmation statement by now. These have not yet raised any money for MGF because they need to be exercised by the option holders to raise money for MGF. When the option holders exercise them they effectively pay MGF money to buy additional units under the terms of the option which is "Each MGF Option has a three year term and will be exercisable at a 7.5% discount to the estimated net asset value per Closed Class Unit at the time of exercise". Therefore, as the future NAV is not known, and the future dates when holders exercise the options is also not known, the amount that will be raised by these options is currently unknown.

Expand

While the share price sits at a significant discount to NAV, the options will remain unattractive regardless of what the NAV may be. MFG/MGF need to close that gap to generate interest in the options.

MFG Price at posting: $45.00 Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

TLX

Telix jumps 11.6% as US government indicates proposed medicare changes won't affect prostate cancer drug

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

AUG

Augustus sees imperial share rise on high-grade Cu and gold results at Ti-Tree

RNU

Renascor wins a funding boost given it wants to produce a critical mineral – but $5M award pales in comparison to some

TX3

Canadian fieldwork yields multiple pegmatites for Trinex

There are more pages in this discussion • 21 more messages in this thread...

First 36 Last

Add MFG (ASX) to my watchlist

(20min delay)
Last $9.49		Change -0.020(0.21%)		Mkt cap ! $1.715B

Open	High	Low	Value	Volume
$9.68	$9.72	$9.44	$6.956M	729.5K

Buyers (Bids)

No.	Vol.	Price($)
4	11092	$9.49

Sellers (Offers)

Price($)	Vol.	No.
$9.50	1226	1

View Market Depth

No.	Vol.	Price($)
3	8598	9.490
2	5961	9.480
3	8512	9.470
2	3707	9.460
1	5000	9.450

Price($)	Vol.	No.
9.550	633	1
9.560	2289	2
9.570	1707	1
9.580	1707	1
9.590	1707	1

Last trade - 16.10pm 11/07/2024 (20 minute delay)

MFG (ASX) Chart