Would you prefer everyone just posted the good news? We have an event in two weeks that could decimate the share price of both BBI and BEPPA and you want to ignore it?
By the way, I do not own BBI. I own BEPPA, and plenty of them.
There are serious short term concerns with BBI and I refer to Euroports. How do BBI come up with the put option money (possibly in the order of $100M) plus the $70M deposit that needs to be refunded if the Euroports deal falls over? You also have the added potential disaster in SPARCS in November if BBI do not have the cash to pay SPARCS out. How they get the cash I do not know as any proceeds from asset sales is forcibly swept by the banks straight to corporate debt.
Potentially, we could see BBI hit the lows of November if asset sales take longer than expected and SPARCS convert to BBI. If you wish to ignore those concerns, that is up to you but I always think it is good investment strategy to weigh up both positives and negatives. Long term, I am confident BBI will come out of this in better shape but short term there are serious concerns. It is no coincidence that the general market is booming yet the BBI security price is going nowhere.
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