I think it will open around the 18cent mark but hope we will be pleasantly surprised, the market will tell us where it wants it to be. Although going forward a few things are going to hold the share price back which are a capital raising, the sweep, the onerous contracts and profit levels.
I think the share price won't return to normal levels until dividends are being paid again which we probably won't see until 2011/2012. Up until this stage it will probably trade at a discount, similar to what we are seeing with some of the REIT's at the moment some of which are sitting around the 40-50% of NTA.
At least now these issues can be the primary focus of management.
Hope I am in a similar situation to yourself. Whats your plans from here? Hold them all or sell a portion?
BBP Price at posting:
7.6¢ Sentiment: LT Buy Disclosure: Held