Hmmm:
Goodman
Gearing & liquidity issues remain:
Macquarie led financing positively allows GMG's to survive & repay the 1st tranche of its facility, but at a price - 15% of the company.
Also, the deal doesn't change GMG's elevated gearing position - 54% post devals (vs.. 60% covenant).
Also has $900m liquidity deficit through FY11, assuming distributions are cut beyond 2H09.
GMG may need up to $1.5b of equity to recapitalize (implies 49% look-through gearing) in order to allow it to more efficiently interact w/ capital mkts.
Maintain Underperform, PO $0.20 (from $0.35).
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Last
$34.41 |
Change
0.035(0.10%) |
Mkt cap ! $70.34B | |||
| Open | High | Low | Value | Volume |
| $34.14 | $34.70 | $33.97 | $44.50M | 1.293M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 38 | 1609 | $34.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $34.41 | 552 | 7 |
View Market Depth
| Last trade - 15.00pm 15/09/2025 (20 minute delay) ? |
| GMG (ASX) Chart |