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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » LMF HOLDING 38 MILLION DIST

LMF HOLDING 38 MILLION DIST

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1LMF  HOLDING 38 MILLION  DIST Empty LMF HOLDING 38 MILLION DIST Mon Mar 07, 2011 6:21 pm

shan


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
LMF holding 38 million shares of DIST huge profit for LMF it will move.

2LMF  HOLDING 38 MILLION  DIST Empty Re: LMF HOLDING 38 MILLION DIST Mon Mar 07, 2011 6:24 pm

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics
@shan wrote:LMF holding 38 million shares of DIST huge profit for LMF it will move.
This has been posted before.
What makes you think LMF wants to sell their DIST holdings?

3LMF  HOLDING 38 MILLION  DIST Empty Re: LMF HOLDING 38 MILLION DIST Mon Mar 07, 2011 6:30 pm

$$$


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Rolling Eyes

4LMF  HOLDING 38 MILLION  DIST Empty Re: LMF HOLDING 38 MILLION DIST Mon Mar 07, 2011 7:06 pm

TelesHope

TelesHope
Senior Equity Analytic
Senior Equity Analytic
@shan wrote:LMF holding 38 million shares of DIST huge profit for LMF it will move.

Shan, you are fond of dropping stories from nowhere!!!
By the way, If LMF is willing to sell 38 Mn DIST, why don't you purchase this bunch...
lol!

5LMF  HOLDING 38 MILLION  DIST Empty Re: LMF HOLDING 38 MILLION DIST Mon Mar 07, 2011 8:20 pm

hasi84

hasi84
Moderator
Moderator
@tubal wrote:
@shan wrote:LMF holding 38 million shares of DIST huge profit for LMF it will move.
This has been posted before.
What makes you think LMF wants to sell their DIST holdings?

LMF holds 37.96mn shares of DIST,635k shares of COMB, 209.5k shares of DOCK and 103k shares of MBSL (and a few other shares) as long term investments: at the moment these investments are held at book value in the balance sheet (total of 278.3mn).
When the company complies with the new IFRS accounting standard LKAS39 it will have to value the investments at market value and not book value (every company will have to comply by the 1st of January 2012).
The current market value of its equity portfolio is 7.18bn with an unrealised capital gain of 6.91bn: the current unrealised capital gain is approximately 172.63 per share.
Taking the reported NAVPS as of December and adjusting it to include the unrealised capital gain increases the NAVPS to 219.73.
At the current price of 126 LMF is trading at a 74% discount to NAV.
Disclaimer: I currently hold a significant amount of LMF in my portfolio thus my valuation might be considered bias.

6LMF  HOLDING 38 MILLION  DIST Empty Re: LMF HOLDING 38 MILLION DIST Mon Mar 07, 2011 8:46 pm

tubal


Vice President - Equity Analytics
Vice President - Equity Analytics
@hasi84 wrote:
@tubal wrote:
@shan wrote:LMF holding 38 million shares of DIST huge profit for LMF it will move.
This has been posted before.
What makes you think LMF wants to sell their DIST holdings?

LMF holds 37.96mn shares of DIST,635k shares of COMB, 209.5k shares of DOCK and 103k shares of MBSL (and a few other shares) as long term investments: at the moment these investments are held at book value in the balance sheet (total of 278.3mn).
When the company complies with the new IFRS accounting standard LKAS39 it will have to value the investments at market value and not book value (every company will have to comply by the 1st of January 2012).
The current market value of its equity portfolio is 7.18bn with an unrealised capital gain of 6.91bn: the current unrealised capital gain is approximately 172.63 per share.
Taking the reported NAVPS as of December and adjusting it to include the unrealised capital gain increases the NAVPS to 219.73.
At the current price of 126 LMF is trading at a 74% discount to NAV.
Disclaimer: I currently hold a significant amount of LMF in my portfolio thus my valuation might be considered bias.

That makes LMF another company which is worth less than the sum of it's parts.

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