In theory yes but the market per se is the judge of shareholder value by way of giving it a market cap
Just before the Sept 17 raising of $30m Turners market cap was $251m
Even though Turners have raised $30m (making the company more valuable / richer) and reporting fantastic growth and profits and all those good things Turners market cap is about the same. The market as ascribed no value to that new capital and supposedly better future prospects.
Market Value Added is a good measure of value and how well a company is rewarding investors. It’s the difference between market cap and shareholder equity ...you can see the higher that is the more the market has rewarded investors / company for its efforts. Since just before that $30m capital raise Turners MVA has fallen by about $15m
That could be the market saying giving Turners heaps more cash to plsy around with might not have been such a good idea and we don’t have that much faith in them adding much in the way of value from that playing around.
But then again many on here will say the market is a stupid ignorant beast and has yet to grasp the potential that Turners offer in the future. Once they wake up and learn things will be different. Hope so