I thinks the new/latest offer from JBL for JBFG @ $6.60 .......could be argued that she's worth $6.90 due to disparity (Contango?) between JBL and JBLOA's...... JBL trading at $2 and JBLOA's trading around 60c.....
(3 X JBL shares and 1 X JBLOA exercisable at $1.10.... for each JBFG )
Of course it could be argued the other way that JBL are overpriced (Rather than the JBLOA's under priced ).....giving us around $5.70 offer value for JBFG .....rough figures.....
Lack of liquidity on CHI-X (along with the tangled pirate web of confusion ) make it hard to put a value on the JBL offer....Guess market forces will come into play if she does eventually list on ASX,......
I think once HML imminently (LOL) re-list things will start moving quickly re JBL/JBFG....&
Sammy Axe must be close to hitting the waters also ....giving another churn of funds through the Armada.....If they can find punters to take up the offer......
I've got enough skin in the game and don't think i'll be tempted re Sammy......Maybe after listing......as I thinks she'll dip in current climate........as per most LIC ipo's.....
Anyone out there even considering a punt on the AXE at all ?
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