It was reasonable to expect the Moorebank sale would have been finalised before the COVID-19 crisis began. Additionally, I can see why interested parties are now also holding back in the current climate.
The board had every right to assume the sale was going to proceed, especially with the number of interested parties, which would have bolstered our balance sheet. It's just a stroke of bad luck, considering how low the share price is also, but hey that's what happens.
After all, this only has a 5% allocation in my portfolio, with med-high debt levels, but hoping that'll change once a partial sale of Moorebank has happened rather than more acquisitions, special dividends or buybacks.
It'd be nice to see the cap raise above the $2 mark but considering the environment, $1.80-1.90 could be on the cards, at least they're looking after their shareholders with a pro-rata raise.
Cheers,
Dalto24
QUB Price at posting:
$2.21 Sentiment: Hold Disclosure: Held
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