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$12.09 crown resorts limited

Flawed assumption; namely, Don't forget why Packer sold? And...

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usc75

4,056 Posts.

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25/10/16

13:09

Post #: 20102324
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Originally posted by warhorse ↑

The family sold 35,000,000 shares in Aug 2016 at $12.80 per share, generating proceeds of $450m. In addition they have received dividend proceeds of approx $150m from the Oct 2016 dividend. From these two activities they have generated around $600m.

Under ASX creep provisions the Packers could purchase 3% every 6 months. With the amount of funds recently received just related to Crown they could do this nearly 3 times over.

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Flawed assumption; namely,

Don't forget why Packer sold? And where the "loot" went to?

DYOR

CWN Price at posting: $10.70 Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

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