Peer comparisons are hard. Ultimately the market decides.
The 193 trading days prior to the LTR TO offer had LLL at 19.5% of LTR market cap. Agree or disagree with that being right is pointless. Thats what the market valued it. It's how as investors you make use of information IMO.
Below is the weekending number, first adjusted for new SOI likely on issues priced in from the CR. The second old SOI.
I still believe another 10% SP gain for LLL needs to be added to just get us back to the average, and that average was carrying a massive discount. 50-70% depending on how you want to cut the numbers.
Sell LTR - Buy LLL in the red zone has been a profitable trade.
Last wee was A GOOD WEEK.
GLTAH
ADJUSTED Shares on Issue CR WE 2nd June
OLD Share on Issue Numbers
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