I see this capital raising as a very big step in the right direction. It should have been done 12 months ago but better late than never... With a positive outlook in wine sales, wine glut under control, AUD depreciating, Interest repayments decreasing and vinyard leases 30% lower. All these pointing to higher profits and a brighter future.
Institutions didn't look at AVG due to high level of debt and low share volumes. This raising will solve those problems and i believe the company will be on peoples radar again post raising and the share price will go up and up.
A similar story to FNP post raising a year ago.
AVG is a much better investment than TWE and with a PE ratio of 8 is a steal.
AVG Price at posting:
43.3¢ Sentiment: Buy Disclosure: Held
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