OPY 0.00% 19.5¢ openpay group ltd

I doubt very much than anything else but OpyPro will receive a...

  1. 1,038 Posts.
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    I doubt very much than anything else but OpyPro will receive a bid. The brand value of the BNPL offering will disappear very fast in a very competitive market. That hit is only worth whatever will be recovered out of the funding facility plus any cash in the bank, minus the receivers fees. Given 85% LVR the receivables should be about $100mio and one could hope they can recover $15mio after repaying GCI+Fortress. Highly dependent on the behaviour of clients and whether they’ll cooperate in repaying their debt. With $17mio cash, there should be some excess after repayment of the $26.5 drawn from the working capital facilities. Though they still have to not 1/3 of their workforce. If they get $5mio for OpyPro in the current context they should be happy. Max $10mio value in total to be recovered I think.
 
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