“But would you kindly ponder this question: What would your good do if evil didn't exist, and what would the earth look like if all the shadows disappeared? After all, shadows are cast by things and people. Here is the shadow of my sword. But shadows also come from trees and living beings. Do... More
TMM Real Estate Development plc, through its subsidiaries, engages in the construction and development of residential and business properties primarily in Kyiv, Kharkiv, Zhytomir, Crimean, and Kherson regions of Ukraine. It develops and constructs business-class residential complexes, office/retail, parking spaces, and hotel/resort properties. The company also leases residential and commercial properties; and produces construction materials. As of May 15, 2011, it completed 31 projects with the total area of approximately 600,000 square meters. The company was founded in 1992 and is based in Kyiv, Ukraine. As of December 31, 2011, its subsidiaries included LLC Firma TMM, OJSC Ukrtsukorteploizoliatsia, LLC TMM Vikna, LLC TMM Budkomplekt and LLC Kirovograd Plant of Construction Ceramics. TMM Real Estate Development plc is a subsidiary of TMM Holdings Ltd.
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TMM Real Estate Development Plc REIT Bet On Ukraine EURO 2012 And Further 1 comment
TMM Real Estate Development plc, through its subsidiaries, engages in the construction and development of residential and business properties primarily in Kyiv, Kharkiv, Zhytomir, Crimean, and Kherson regions of Ukraine. It develops and constructs business-class residential complexes, office/retail, parking spaces, and hotel/resort properties. The company also leases residential and commercial properties; and produces construction materials. As of May 15, 2011, it completed 31 projects with the total area of approximately 600,000 square meters. The company was founded in 1992 and is based in Kyiv, Ukraine. As of December 31, 2011, its subsidiaries included LLC Firma TMM, OJSC Ukrtsukorteploizoliatsia, LLC TMM Vikna, LLC TMM Budkomplekt and LLC Kirovograd Plant of Construction Ceramics. TMM Real Estate Development plc is a subsidiary of TMM Holdings Ltd.
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www.tmm.ua/
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The latest portfolio valuation
http://bit.ly/QItUra
says asset value is USD 407m.
Deducting total liabilities of USD 223m (as of H1 2012) leaves a NAV of USD 184m, with 51m shares (correct?), one gets a NAV/share of USD 3.6
The share price however is at €0.18, i.e. $0.23 not even a tenth.
Anybody can explain?
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