There is still a ray of hope for the share pric to recover closer to the pre-announcement level( dated 23 dec 08). On the basis of arbitrage opportunites.
1. It is reasonable to suggest the share price will recover to cash per share level. Based on the annual report, there is about 37.5 million cash plus appoximately 2% deposit interests. This translates into 8 cents per share(48% upside)
2. Favourable exchange rate movements from pevious reporting date to next one. Given large US market exposure, the appreciation of US dollar over the recent months has helped HFA to boost future income after exchange rate conversion. The xhcnage rate has changed from 0.96: 1(AUS: US) to 0.69: 1( US : AUS)
ray of hope( arbitrage opportunities)
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Last
$1.84 |
Change
-0.020(1.08%) |
Mkt cap ! $897.8M | |||
| Open | High | Low | Value | Volume |
| $1.83 | $1.89 | $1.83 | $229.6K | 124.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 6670 | $1.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.84 | 56 | 2 |
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| Last trade - 15.24pm 29/07/2024 (20 minute delay) ? |
| NGI (ASX) Chart |