Seems like asset managers tend to be valued between 1.5% and 3.5% their FAU. PPS is growing a lot faster than the AM industry but let's use 2.5%.
The Int'l business has $5bn in FAU. 2.5% of $5bn is $125m. Not sure if there's some tax leakage but if say PPS retain $25m to fund AUS biz and distribute $100 to shareholders, then we would get a nice c18% distribution ($100m over current market cap).
Does anyone disagree with the above?
Seems like asset managers tend to be valued between 1.5% and...
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50.0¢ |
Change
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Mkt cap ! $241.0M | |||
| Open | High | Low | Value | Volume |
| 51.0¢ | 51.0¢ | 49.5¢ | $366.3K | 728.6K |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 109762 | 49.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 50.0¢ | 15838 | 1 |
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| PPS (ASX) Chart |