Brokers have revalued it downwards over the last few weeks.
Initially, $471m-$512m now its $422m-$482m.
Register will be predominantly Insto’s and retail will get small allocations. Macquarie believes that Autosports is best compared to APEagers as it’s similar in geographic exposure on the east coach. Automotive Holdings has very high exposure in WA and is falling behind.
Pagent guys are good operators and well regarded and margins are similar to APEagers.
Due to low interest rates, new car sales are booming and luxury car sales have grown to round 35% of all new car sales. A buyout by an overseas dealership could be a possibility in the future. Depending on final price could do well.
