Does anyone understand this company?
It seems to be incomprehenible.
looking at the balance sheet there should be some value here
assets $1,854m
liabilites $1,471 m
equity $382 m
gearing is about 80%
they have sold $550 m of assets
assets $1304m
Liabilities $921m
equity $383m
gearing down to 70%
they hope to bring greaing down to 55-65%
to get debt down I think they need to sell another $400 m
that'll bring assets down to $900 m
liabilities down to $500
equity $400
so I suppose they'll have to sell another $400 m
the market must still think it is overgeared. That's all I can think
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