$1 a share less is $213m less so they are still saying that the assets of MET have gone down by more than $200m. What limited real estate data there is since we emerged from lockdown does not support this contention relative to real estate prices as at 31 December 2019. (Recall medium prices in N.Z. went up 4.9% in the first quarter in N.Z.)
The Chairman's statement that prices have fallen about 15% is probably the most misguided and wimpiest thing I have ever heard a Chairman say.
Has he simply not had time to read anything at all in the press about real estate prices or is this him simply caving in under pressure and waving the white flag or both ?
No wonder the arbitrage funds want him gone, he is completely tone deaf in trying to read the market. I'm extremely disappointed with that (assuming his comments were reported correctly and I hope they weren't).
Really, anything less than $6.35 and MET shareholders have been totally shafted here.