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67 Posts.
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19/10/22
12:08
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My numbers have LNK worth c. $5 / share on SOTP in current environment
RSS = $1.2bn (could be more, FNZ bid $1.5bn)
Equities = $1bn (net proceeds)
BCM = $0
LFSL = $0
PEXA stake = $1.1bn at spot
Less: LNK Net Debt = $688m
LNK equity value = $2,612m
Implied share price = $5.07 / share
LNK spot price = $3.36
Implied upside = +50.8%
If it drops to $2.80, I expect you will see a fair few back up the truck
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