Have done some analysis and reckon this could be a ripper
BENCHMARKS USED
Compared with Steadfast, PSI and AUB ( Austbrokers) there are no listed companies identical to Freedom but essentially Freedom are acting as brokers as they are not taking any underwriting risk.
PROFITABILITY
Compared EBITDA to Sales and Freedom at 30% versus others in range 27 to 37 %. Freedom in range.
ASSET MANAGEMENT
Looked at EBITDA as a percentage of total assets and Freedom at 25% and rest in range 4 to 18 percent. Freedom a stand out performer here.
OTHER ISSUES
Freedom 10% size of Steadfast, 60% size of PSI and 20% size of AUB.There could be some discount for size.
PRICING
If Freedom is priced on listing and similar to benchmarks above then it is worth between 35 and 70 cents.
Will be very surprised if this does not stag assuming all else equal on the markets.
Brokers are BP and Ballieu. BP essentially opened and closed today and evidently Ballieu closes on Thursday I think.
Have gone in with small bet. If market cap was higher would have gone in for a mid sized bet.
AMY THUOGHTS HERE AND OTHERS WITH KNOWLEDGE OF FREEDOM ?
