Originally Posted by
Snoopy
At 36c, DPC has a market capitalisation of $227.4m. But it has several substantial shareholders.
1/ Harrigans Trustees on 7.009% (consideration for purchase of EC control business)
2/ Bartel Holdings on around 7% (associated with Turners Auctions takeover)
3/ The Business Bakery, around 13%
4/ Hugh Green Investments, around 22%
I am not sure if all or any of these would be considered as reducing the free float of shares available. Assuming none of them do, then comparing the capitalisation of companies towards the bottom of the NZX50.
STU at $2.84, worth $251.2m
PEB at $0.77, worth $245.3m
SKL at $1.39, worth $268.0m
NZO at $0.64, worth $269.5m
means DPC is not quite there yet.
Based on the current number of shares on issue (631.496m), the DPC share price would need to rise to 40c for the market capitalisation to crack $250m.
SNOOPY