Ann: New Contracts - Abesque and Cimeco $40m , page-14

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  1. 675 Posts.
    Stockval have put a value of $2.87 on Forge, and are suggesting that at current price reflects a return of 17.1% pa. They have assumed normalised ROE is 25%, under their calculations (I don't know exactly how they manipulate it) they have achieved 45% normalised ROE for last 2 years. So it looks conservative.

    The Clough price is obviously cheap, it is strange to see sophisticated investors sell at this price. I wonder what went on behind the scenes to convince them? They must have been sold a pretty good story on their remaining stake in Forge to convince them to sell......or they had agreed many months ago, before Forge was trading at current prices.
 
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