Is it correct that AUZ will only own about 28% of NorWest?
Is it also true that the shareholders of AUZ are getting nothing for the divestment of 72% of NorWest, they are not even being given a few in-specie shares as part of the roll out, but just having 72% of NorWest hived off their AUZ holding, for no compensation?
Surely the NorWest assets were worth something, and in all fairness, a value should have calculated, then 72% of that value should have been assigned in shares, and those shares distributed freely to AUZ shareholders to compensate for the loss of value in AUZ by the NorWest IPO.
I can't believe any fair board would do otherwise, or am I missing something here?
As usual, I'm happy to be wrong.
I'm asking this because I was looking at AUZ today, I currently don't hold, but thought it might be approaching reasonable value.
Gw
AUZ Chart, page-1419
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Last
0.7¢ |
Change
-0.001(12.5%) |
Mkt cap ! $9.789M | |||
| Open | High | Low | Value | Volume |
| 0.8¢ | 0.8¢ | 0.7¢ | $7.559K | 1.008M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 33 | 25996116 | 0.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.8¢ | 1162005 | 9 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| AUZ (ASX) Chart |