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Technology Stocks : Teligent
TGNT 0.0376-16.3%Nov 4 3:14 PM EST

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To: Tecinvestor who wrote (186)4/19/1999 12:27:00 PM
From: Robert Sheldon  Read Replies (1) of 270
 
As of 12:15 pm EST. 4/19/1999

Items below do not include True Position and misc. other holdings.

As I see the discount . . .

Class A shares = 41.75% upside (to reach NAV)
Class B Shares = 51.35% upside (to reach NAV)

If all the TGNT debt was repayed we would have . . .

Class A shares = 22.75% upside (to reach NAV)
Class B Shares = 31.10% upside (to reach NAV)

The explanation for the discount is not reasonable.
1) There are many mutual funds with imbedded taxes at the same level, yet folks buy into them happily at NAV.
2) Many closed end mutual funds trade at a premium to NAV with imbedded taxes.

I think the street is ignoring the company due to its size (~$2.16BB) and general ignorance.
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