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1.21%

$5.73 mnf group limited

can't believe I sold my holding 2 days ago haha I still think...

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atomik

1,738 Posts.

02/04/15

10:51

Post #: 15026044
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Originally posted by peterdoobes ↑

Even though D/E will look high the market is valuing MNF far above its book value. In some respects the historical cost book value is meaningless. I also like to look at net debt to Market Cap because it shows how easily a capital raising could cover the debt. At today's market cap A$22m of debt is just 10% of the market cap.
I expect they see big synergies here in terms of being able to pay down the debt. Also with a share price re-rating if they raise capital in a year or so at higher prices it will be less dilutive. So I think they've structured it pretty well for the moment.
On my rough numbers the EPS accretion looks pretty good. Unfortunately not holding atm

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can't believe I sold my holding 2 days ago haha I still think MNF is undervalued but keeping a close eye on the next opportunity to get on board

MNF Price at posting: $3.35 Sentiment: Buy Disclosure: Not Held
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