I agree. Despite the 30% premium to the current price, this does seem very opportunistic to me. My rough valuation comes out around $11 per share. This is a capital light business that has a good return on equity and ROCE, with low debt and is spinning off a healthy dividend. It seems to have been well underpriced for some time.
Whilst I'm glad to see the price jump, I'm not really happy to let them go at that price. My hope is that another bidder sees the inherent value here and launches a counter bid to at least unlock some of the value that is there.
Ann: Non-binding indicative proposal and entry into exclusivity, page-17
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Last
$8.37 |
Change
0.120(1.45%) |
Mkt cap ! $1.121B | |||
| Open | High | Low | Value | Volume |
| $8.30 | $8.43 | $8.30 | $2.926M | 349.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1512 | $8.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.39 | 1808 | 2 |
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| SIQ (ASX) Chart |