RE: Net Asset Value?17 Jan 2017 22:14
Roughly speaking (rounding) - Book value of £1bn, fair value (independent property valuation) of £1.5bn, bank debt of £0.5bn. Market cap £0.3bn. Edison has fair value adjustment of 1,000p to reported NAV of 800p based on expected uplift in London property values. So, target of £18.50. Shares have sprung into life in last few days on low volume ahead of trading update next week. I think I will buy and hold.