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clock Created with Sketch. 28/04/21
13:03
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Originally posted by ricky182:
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The cap raise was done close to the current price , it was at 4.90 and it was done to invest in fixed income opportunities unlike most companies during covid which did it for cash burn , it was also only raised at less than 10% of the overall shares on issue so barely any dilution. I do agree that it was raised at bottom prices as in this should not be at 5 right now , this should be above 10 currently when you compare with companies like Magellan with a market cap of 9 billion nearly 3 times our market cap while we are at 3.4 billion , we make the same profit as them approx 400 million, have similar amounts of funds under management as them approx 100 billion and on top of all that we are also the leaders in the annuity market in Australia so we should be valued on par with them at the least right now and will be soon enough dont forget the share went from 5 to 7 within 3 months from November to January and the market corrects to the upside very quickly once its undervalued , imho
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sound like lot of panic selling here ... will load up more .. will load up more next week..
(20min delay)