Well, with 14b assets and 4.7b debt... call it 10b net assets.... verses current market cap of 2bn ...
Thats a writedown of some 80% being factored in by the market right now.
I'd say the truth is somewhere between 11% and 80%. I have been using around 25% +/- in my calcs.
To me, 80% is way overdone.
If the banks accept their revaluations, thats good enough for debt covenants. One hopes that their revaluations were conducted with the one audience that matters in mind... the banker!
None of GPT debt covenants are linked to share price... so that can drop to 1c or less without impacting debt.
asx price query, page-15
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Last
$4.63 |
Change
-0.010(0.22%) |
Mkt cap ! $8.869B | |||
| Open | High | Low | Value | Volume |
| $4.65 | $4.69 | $4.61 | $16.61M | 3.583M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 49594 | $4.62 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.64 | 32376 | 1 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| GPT (ASX) Chart |