“Converium believes that the better path for Foxtons is to pursue a formal process to sell itself, a16 Mar 2022 11:33
“Converium believes that the better path for Foxtons is to pursue a formal process to sell itself, and we believe that in a sale Foxtons should command a significant premium over today’s depressed share price,” it read. Over the past six months, during which demand for UK property has run at historically high levels and both average rental and sales prices in London have increased, Foxtons’ share price has fallen by 40 per cent. Since an initial public offering at 267 pence per share in 2013, the company’s stock has fallen by close to 90 per cent, closing on Tuesday at 31.5 pence. A sale could bank shareholders as much as 100 pence per share, according to Converium. If the company cannot fix itself, someone else should buy it and do the fixing.
lol 100p - they just pumping it so they can escape.