KKR owns 63% of LFS - with Shinsei owning 9.6% - so I assume both are happy with this deal and the issue of new LFS shares at (estimated) $2.00 price.
They dont need to do this - obviously see value in BNPL upside via HUM
I am assuming this is just the first offer - you need this to flush out others (if any)....
The Residual in HUM can be easily sold and the LFS shares dis tributes in specie - Mabye $1.10-$1.30 of value in 6-9 months - discount of 30-40% seems high, my guess Hedge Funs will analyse over next few days and if they like the risk reward will soak up volumes below (say) $1.00 - worst case they can hedge the look through LFS holding and have the residual business running at (88-63) at 25 cents or (25*495m shares) = $125m M Cap (needs more analysis for EV).
I really like this opening salvo and am a holder even a speculative buyer at these levels.
DYOR GL
KKR owns 63% of LFS - with Shinsei owning 9.6% - so I assume...
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Last
42.5¢ |
Change
-0.005(1.16%) |
Mkt cap ! $208.8M | |||
| Open | High | Low | Value | Volume |
| 41.5¢ | 42.5¢ | 41.5¢ | $259.1K | 612.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 46000 | 42.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.5¢ | 13537 | 2 |
View Market Depth
| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| HUM (ASX) Chart |