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Re: [sharechat] RE: AQL

From:	"Derek Watt" <watt250@hotmail.com>
Date:	Wed, 14 Jun 2000 17:05:34 NZST

>>I don't know too much about backdoor listings but it seems that NTA goes 
>>out the window when these occur. What was the NTA of Frontier 
>>prerestructure?

>From memory about 30-40c I think.

I wander if this is really true that valuations go out the window. Can other 
people comment on this?

I imagine that that the value of a AQL share is composed of the NTA + the 
saving that is possible by a backdoor listing rather than a 'conventional' 
listing + what ever intangible value that the major shareholders and 
managements involvement has. I find it hard to believe that this is more 
than 5c a share, but I may easily be wrong.

Derek.




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