"This company is trading on a negative NTA"
good point
this is the big question
is it trading on a negative NTA
probably is
credit squeeze higher interest rates could mean the assets are worth less than on the balance sheet
that is the bet
either the NTA is worth something or it is not
Bookvalue is supposed to $6.20
from memory
$15bn assets
$13bn liabilities
$2 bn equity
the assets would have to drop in value by 13% for the shares to be worthless
you could probably forget about cashflow as the business model is smashed.
BNB
babcock & brown limited
