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1999
Experts Value Nrma At $4billion
Newcastle Herald
Monday November 15, 1999
ACCOUNTANTS evaluating NRMA's partial demutualisation have valued it at $3.2billion to $4billion, giving it minimum net asset backing of $2.47 a share.
The valuation, by Pricewater-houseCoopers, is in the fifth draft of documents for members to vote on the proposal to demutualise the insurance arm and list on the Australian Stock Exchange. The minimum $2.47 value will form the basis of the cost price for capital gains tax.
The market price could be considerably higher.
Discussion of demutualisation is not on the agenda for today's annual general meeting but may attract questions from the floor.
© 1999 Newcastle Herald