If you’re a top 100 stock left behind by institutional investors, what’s the quickest way to get back on their radars? Issue discounted shares.
Fund managers cannot help themselves; they love cheap stock. And, when the ASX 100 is trading at 18 times FY24 forecast profit, and industrials stocks are at a lofty 23 times, they love that discounted stock even more.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
