i thought i'd start this one off with a very quick, basic analysis.
please feel free to ask any questions or add any info
FDY – Findlay Stockbrokers
Stockbroking firm – website is out of date.
“Findlay & Co Stockbrokers Limited is a highly specialised and experienced stockbroking firm providing a wide range of services to Institutional, Private, and Corporate clients. The combined skills and years of experience of its members provide a strong foundation for general advice on many types of investment opportunities. Findlay & Co offers quality general investment guidance for all its clients, ranging from sharetrading and placements to complex capital raisings and listings.”
54mill shares – 70% held by top 20 holders. Therefore low volumes traded, similar to FWL
@ 19c = $10.2mill
@ 25c = $13.5 mill
@ 30c = $16.2mill
2007 annual report put nett assets at $400k and profit at $2.8mill.
Therefore EPS = 5cents per share, indicating price should be around 50c.
It seems these guys picked a bad time to float and that now may be a good time to pick some up at 19c and hopefully it kicks up towards its ‘true’ value on the back of better market conditions and more news regarding their earnings/profits etc.