valued at over $2 billion - 26th September 2017
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have valued Fairfax Media's Domain real estate business
at more than $2 billion.
shareholders will vote on the planned spin-off of
Domain on November 2, and will receive one share in
a newly listed Domain for every 10 Fairfax shares
owned, if the plan is approved.
analysts David Kaynes, Kofi Mensa and Manisha Sandilaya
have trimmed their valuation of Domain since details
of the spin-off were released by Fairfax last week.
value Fairfax Media, which has 2.3 billion shares
on issue, at $1.10 per share, with Domain's value
dropping from $1.02 to 88 cents, putting the company's
value at $2.02 billion.
Kaynes said the cuts to Domain's valuation were due
to higher than expected corporate costs of between
$10 million and $12 million, from the $8 million to
$10 million previously disclosed, and the net debt
that Domain will have at listing.