oceaneagle, lets do the maths.
Noting that R Rankin has significant equity in CGA and Aitken Investment Management (AIM).
AIM has $150 fum , and RR bought 20% recently valuing the whole AIM at $2.5 mill. So the Fin says.
CGA had $750m fum at end of June. RR owns 10%.
Using AIM metrics, CGA should be worth 750/150 times $2.5 mill or $12.5 mill
At $1.01, CGA has market cap of $43 mill, or 3.4 times comparable value? Who is kidding whom?
From the Fin of 20th July, "
"Celebrity money man Charlie Aitken has just sold a bit under 40 per cent of his operation to billionaire Kerry Stokes and investment banker-at-large Rob Rankin for less than $1 million. What a bargain.
Based on the sale price, Aitken’s high-profile Aitken Investment Management is valued at just under $2.5m,
When the final instalment arrives, it’s expected to take total funds under management to about $150m."
CGA Price at posting:
$1.02 Sentiment: None Disclosure: Not Held
