The following is taken from Leighton?s announcement today.
"The proceeds from the Entitlement Offer will be used to strengthen Leighton?s balance sheet, provide financial flexibility to pursue growth opportunities and support investment grade credit rating metrics."
I find it unusual that a company that has just had a massive revision downwards is talking of growth opportunities. Obviously most companies are on the lookout for growth opportunities, it just seems a strange time to highlight it.
I that LEI owns about 20% of MAH and with MAH currently worth about $420m that means they'd have enough to launch a takeover if they so desired. I feel MAH is currently undervalued and if LEI could get MAH for under $1 it would be a good pick up for them and also a reasonable price for us. Even a script offer could be attractive with LEI's price about to be crunched. Both are good companies with good growth potential.
The following is taken from Leighton?s announcement today."The...
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Last
29.0¢ |
Change
0.010(3.57%) |
Mkt cap ! $624.9M | |||
| Open | High | Low | Value | Volume |
| 28.0¢ | 29.5¢ | 28.0¢ | $900.0K | 3.133M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 61864 | 28.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.0¢ | 18769 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| MAH (ASX) Chart |