Genesis definitely want out of that stake and NZOG has preemptive rights before it is offered up in general to all parties. That will include preemptive rights over the others who knock back their own rights.
With the 28% tax advantage vis-a-vis the imputation credits an overseas buyer is going to have to be dead keen to outbid what NZOG can pay.
NZOG could in a heartbeat raise/borrow whatever it would need to take up whatever share of the Genesis stake it gets offered. Would be enormous cashlfow for them if they did that. Most of the initial cashflow would go towards any bank debt if it happened, then after that would be a cash bonanza for them.
Anyway, we will see I suppose. And of course we are speculating.
trading halt, page-12
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Last
37.5¢ |
Change
0.005(1.35%) |
Mkt cap ! $83.98M | |||
| Open | High | Low | Value | Volume |
| 36.5¢ | 37.5¢ | 36.5¢ | $3.528K | 9.436K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 37136 | 36.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 37.5¢ | 31636 | 2 |
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| Last trade - 14.29pm 10/07/2024 (20 minute delay) ? |
| NZO (ASX) Chart |