11-07-2013, 09:50 PM
I think global investment looks very attractive base on the numbers alone
30% discount to nav seems like good margin of safety and the 10% yield is pretty juicy
however the yearly rights issue is really a pain in the ass for shareholders
I do feel that their AUM is still not big enough at 250 mil, their target might be half bil or 1 bil as such there is really a very high probability of rights issue to come.
I also think that they will not need to set aside as much cash as they have the scrip dividend plan in place, I think the majority shareholders will feel more worth it to take the discounted scrip(shares) instead of cash
30% discount to nav seems like good margin of safety and the 10% yield is pretty juicy
however the yearly rights issue is really a pain in the ass for shareholders
I do feel that their AUM is still not big enough at 250 mil, their target might be half bil or 1 bil as such there is really a very high probability of rights issue to come.
I also think that they will not need to set aside as much cash as they have the scrip dividend plan in place, I think the majority shareholders will feel more worth it to take the discounted scrip(shares) instead of cash