So much value at this price, page-24

But the Price to Underlying Sales ratio is completely within normal territory for current valuation. Not sure about P/E ratio though.

And they have just proved they can raise funds to expand. Why wouldn't they be able to do the same in the future? Never mind it was done when rates are at historic lows, markets are red hot risk on, done on shitty terms and next time they will be carrying a heap more debt on the balance sheet. All IMO