Possible IPO Port of Napier

[Ggcc]

https://www.stuff.co.nz/business/107566442/council-proposing-to-sell-49-per-cent-of-napier-port-so-it-can-cope-with-growth

[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.

[Timesurfer]

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

[iceman]

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

[Ggcc]

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.

[Jantar]

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.

[silu]

A port IPO would fit nicely into my long term portfolio. Lets see some deets.

[Ggcc]

https://www.napierport.co.nz/wp-content/uploads/2018/04/Annual-Report-2017-Stepping-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.

[GTM 3442]

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.