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Possible IPO Port of Napier
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I would love to see a proper evaluation of a merger of several ports like Napier, Nelson, Timaru and possibly Picton into one company and then float a good chunk of it. Too many Councils involved now and very high overheads that could no doubt be trimmed substantially.
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Originally Posted by iceman
I would love to see a proper evaluation of a merger of several ports like Napier, Nelson, Timaru and possibly Picton into one company and then float a good chunk of it. Too many Councils involved now and very high overheads that could no doubt be trimmed substantially.
Those dividends offsetting your rates might be missed
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Originally Posted by Timesurfer
Those dividends offsetting your rates might be missed
No I don't think so. I'm assuming any floating of ports will see Councils keep a slight majority, similar to what the Government did with AIR. Win win
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I am keen to see the people of Napier possibly having a local allocation if the price is right. Many Napier business people I have spoken to want a chunk of the port.
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Only paying $10M dividend to the council, so suggests current worth is around $200 - $240 M. Yet they want to raise $320 M by selling 45%. The prospectus would make interesting reading.
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A port IPO would fit nicely into my long term portfolio. Lets see some deets.
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https://www.napierport.co.nz/wp-cont...ping-Ahead.pdf
The figures dont look that great for the millions they want to raise, but still as a napier resident I would love to have the chance of owning a piece of this.
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I'm inclined to think that buying something sold and valued by New Zealand Local Government would be akin to buying into a company floated by private equity.
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