One of the assets they had (residential zoned farmland in Melbourne - book value $120m) has recently been sold to a chinese developer for $400m! 4.5 year terms though so it will be a while before all the cash comes in.
They also own an office tower in Melbourne CBD which has been valued at circa 130m.
Other small assets they have are development sites in Box Hill, Melbourne.
The rise has been underpinned by the successful sale of the Wyndham Vale farmland at an astronomical price!
PHI Price at posting:
$11.50 Sentiment: Hold Disclosure: Not Held