Ive loosely followed ECX since the big drop in March 2019. However ive only recently started to look more closely at the operation recently given the current sp looks potentially attractive.
on the surface the low shares on issue and divestment of non core assetts to bring down debt appear very positive.
Where things start to get very opaque is the Asset Backed Securitization process where ECX has issued several tranches ($450m last tranche alone) of bonds against its leasing and financing operations. Anyone more familiar with this kind of financing able to give an idea of the risk to the business this creates?
Although ECX has low soi, not only is it carrying $166m in debt it has somewhat unquantifiable exposure to these ABS bonds issued on its behalf.
Ive loosely followed ECX since the big drop in March 2019....
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Last
$3.06 |
Change
0.090(3.03%) |
Mkt cap ! $732.2M | |||
| Open | High | Low | Value | Volume |
| $2.95 | $3.08 | $2.95 | $4.429M | 1.455M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 4238 | $3.04 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.08 | 19000 | 2 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| FPR (ASX) Chart |