No because MLT shareholders not only received a 10% premium to NTA but the relative prices set the SOL price at the lower of $31.00 or market so they always got a better deal and propping up the price would not have changed the SOL part of the equation. The real issue is that the shareholders in MLT were and probably are looking for a LIC type investment house and SOL is a hybrid.
If you look at a lot of MLT shareholders posts on HC (Not sure if you can still access them) the majority were holding for the dividends and then selling. I don't know if they were only holding for the MLT dividends or that plus SOL. I suspect this weakness will continue all the way until these stale shareholders are gone. Hopefully SOL gets into ASX 50 then we may find some buying power.
Everyone has different valuation models for SOL but I think we are falling below the value I would place on them in a top of a bull market.
Ann: Merger of SOL and MLT Implemented, page-30
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Last
$34.35 |
Change
0.300(0.88%) |
Mkt cap ! $12.63B | |||
| Open | High | Low | Value | Volume |
| $34.16 | $34.44 | $34.02 | $11.98M | 349.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1487 | $34.35 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $34.43 | 290 | 1 |
View Market Depth
| Last trade - 16.10pm 13/11/2024 (20 minute delay) ? |
| SOL (ASX) Chart |