Is CYBG drool-worthy?

The demerger of UK banking group CYBG plc from National Australia Bank ticks a lot of boxes for the value investor. In the 1890s Russian physiologist Ivan Pavlov investigated the topic of dog salivation (presumably he didn’t get out much). Pavlov discovered that an external stimulus – such as a ringing bell – could cause a dog to salivate if it had previously associated that stimulus with being fed. Well, I’m salivating. The stimulus in my case is the discount to book value on offer at CYBG plc (an acronym for Clydesdale and Yorkshire Banking Group). This company contains the UK banking assets of National Australia Bank, and it will demerge from that company and list on the ASX on 3 February. Prior to the listing, CYBG is conducting an initial public offering for institutional investors, who will set the final price. National Australia Bank announced details yesterday, with CYBG proposed to be priced in a range between 175 pence and 235 pence per share. Read full article here: (VIEW LINK)