hi tokyo,
didn't follow GBG closely, just saw that they raised capital at a 100% premium to current market price.
The only parallel I could see is that someone might pay a 100% premium for CFE since it's trading at a 50% discount to its cash.
Well, happy to hold CFE, downside is limited but upside is huge in my opinion.
It will be interesting to know the sale price for Evraz's stake in CFE. Maybe someone will pay 40c/share for the stake.
We will find out in due time.
Cheers
independent analysis, page-6
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