ILF seems to be priced for administration.
The thing i can't get my head around with ILF and the other REITs is that the NTA to share value is say at leasts 10x .
On paper if the banks call them in, shouldn't shareholders get say 5x the SP price back with asset sales assuming a 50% drop due to a fire sale ?
So i don't understand why the SP price seems to be factoring in fact to NTA value ?
Cheers
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