TSX:AX.PR.E - Post by User
Post by
SNAKEYBOYon Sep 07, 2023 9:37pm
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Post# 35625375
Backup Plan
Backup PlanIf Manji and the board and sandiper get cold feet to go "all the way" - i.e a sale, privitization or full scale liquidation to realize as close to NAV as possible (maybe it isnt possible after crunching the numbers or finding a buyer), then I highly suspect Manji will take a page out of Coopers book and raise enough cash, around 200m for the sake of a SIB to provide investors a firmer price for exit liquidity. Not his PLAN A for sure but I could see it as a middle ground IF they cannot pull off a miracle "closing the gap" in a 1 year timeframe.
I see it looking something like: 20m shares for $8.75. Total cost < 200m, funded by asset sales, maybe FCR/D sales, selling Cominar stake to the other parties. etc.