Shorters tend to look at overvalued companies, and companies that have skeletons in the closet.
Was ISX overvalued? The demerger orchestrated by the Board was for an asset valuation of AUD$13M - per the company. This resulted in AUD$13M being removed from the Australian company that had a market capitalisation in excess of AUD$1B. It seems post demerge did not leave an Australian company that was valued at AUD$987M.
Without the benefit of a market price we will need to do our own calculations as to current ISXFEU investment value. This has been a good learning experience.
