Given the interesting times we are in I thought I would update my valuation. Contemplated using a sum of the parts approach but will have to wait for the sales process given the lack of meaningful information at this stage. Best I can do is use a Net Current Asset Value as a proxy for 'liquidation' value:
Current Assets: 916.95m
Total Liabilities: (803.9)m
NNCA Value: 113m
PXUPA on Issue (less held in PPX treasury): 2.6m
Net Current Asset Value per PXUPA: $43
As always I have assumed that it value is under $100 all spoils (if any) go to PXU. I understand this is a simplification and actual outcomes are difficult to predict but this at least indicates that there is some significant value on offer (for preference holders) if a favorable deal can be done.
PXUPA only
SRS Price at posting:
1.8¢ Sentiment: Hold Disclosure: Held
