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04/03/08
16:23
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guys, aed will not be issuing any new shares, they simply are selling equity in their assets.
i suspect aed will get about $400m for 70%
this values aed at 400/0.7 = $570m
now aed has about $300m in debt, which leaves $270m of equity value. divide that by 150m shares on issue, is about $1.8 per share.
given aed will no longer be in a distressed position, i expect it to trade at a premium to this 'fire sale' valuation.
i'm expecting a re-listing price of about $2.20 to $2.30 per share.
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