Well, you can't ever accuse them of doing things by halves, the total cost of the acquisition is approaching $100 million AUD if I am reading these documents correctly. And what is the current market cap of NNW? I believe the annual revenue for Ofpay is currently about $16 million, with approx $6 million NPAT.
I agree with some others here that the company may not be fully understood by Australian investors on the ASX. The company also believes this and have long talked of listing on another exchange, maybe they will one day, perhaps Hong Kong. I am not sure why they have delayed.
They obviously have no problem with taking on huge debt, and must be looking to the long term.
Gw
NNW Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
