Those bloody Aussies eh .....weren’t committed shareholders for long eh.
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Too true, it's hard to exit a 6.9% stake by just selling into retail investors.
They can drop around 600k shares before the are required to submit an SPH notice. (last five days approx 500k in volume, but then you have retail investors in there as well - like me)
Next week will be interesting
I think the valuation of HLG is mainly based on dividends. Dividends so far has increased and seems aligned with the price movement as well.
When I look at the reports for the last 3 years, they used to spend on dividend more than they profit, taking funds out of retained earnings. However, for the recent year's report, they actually accumulated the retained earnings even after paying a lot on dividends.
As long as they keep the dividends the same rate as the latest ones, I think SP will adjust to it. Current dividend yield is 0.44/4.85 = 9% which shows the current SP is undervalued. I think the current market sentiment has put a lot of pressure on the selling side too.
Well, what do I know, it will be interesting to see what happens next week...... Hopefully good news comes.........