IDX have gone up because it has been rerated following the sale...

IDX have gone up because it has been rerated following the sale price of CAJ Sydney operations.

CAJ Sydney was sold for 8.5 times EBITDA. Now IDX operations are more valuable than CAJ Sydney. Lets say worth (at a minimum) a multiple of 9.5 EBITDA. That gives us 9.5 times $34.4 million equals $326.8m.
Less debt of $50m gives a valuation of $276m. Or $1.90 per share.

Coming at it from another direction. Please do your own calculations but I calculate CAJ is trading at a PER of 16.2 on estimated 17/18 earnings. Now IDX being a higher quality company should have, in my view, a higher PER than CAJ. But using the same PER of 16.2 and forecast EPS of 11.5 gives a valuation of $1.86.