No.
Most probably never will be.
Never expected to be.
1/Some Australian Intos are only allowed to invest in shares that are listed on the ASX.With TRA and HGH those intos buy on NZX because of liquidity.No ASX listing no buying on NZX.
2/Turners EC Credit deals with Australian Banks and intos.To expand in Aussie they need to have an ASX listed parent.
3/Both TRA and HGH do securitization with Aussie intos.Tidies that up,,and leads to the possibity of expanding it further in Aussie.
4/I expect HGH will soon do a reasonanly sized bond issue,in Aussie,which again will be easier to get away with them being listed on ASX.
5/Turners may want to do a bond issue in Aussie at some stage.
6/HGH is expanding their REL business very quickly in Aussie,and it may give clients peace of mind they are dealing with a company whose parent is an ASX listed .
7/Both TRA and HGH have large lines of credit with Australian Banks,so being listed there is helpful.
There fore you can see why both companies are not concerned if their shares never trade in Aussie.
ps.Ever noticed in Aussie you see Mainfreight trucks with an Australian flag on their side.Mainfreight Australia.
I guess a lot of Aussies don't realise Mainfreight is a NZ company.
Percy has detailed a good list of reasons, most of which relate to Heartland though.
I can't understand it either (from a small reefie point of view), over $200k to list there with no trading....why bother?
I haven't seen any Aussie instos come in and take a chunk of equity (although I'm told that they buy through their NZ subsidiaries anyway). Seems to be more of a fade that NZX listed companies are going through at the moment rather than reasons that benefit the shareholders (why enter another market, only for there to not be a market).
Percy: If EC Credit secure a Aussie bank or insto deal in the next 12 months, I will shout you a drink the next time we meet :D
Is the Turners Board congratulating themselves that they have managed to stem the collapse in the share price by having a buyback?
Wonder if they have any New Years resolutions beside hope hope and more hope that 2019 will be better
2019 Resolutions:
- Announce the success of the buyback program
- Reinstate the 2pm wrap up of future board meetings. :t_up:
- Grant to attend next AGM (prefer without a fresh tan)
- Confirm FY19 downgrade and blame external factors
- Rejustify why the boards troughing is good even if no future shareholder value is added
- Announce management/directors takeover at discounted price
I wonder if the board has worked out yet that the 'buyback' is just providing a market for either Milford or Salt to exit/reduce.
Looking forward to 2019 as it will be an interesting year
I joined the queue for the exit the other day. And was there to pick up this ball that others were tossing away.
My cheeky bid I put in some days ago for a few more shares at $2.38 was hit. Very happy to buy more TRA at these gross yield levels. Particularly with that next divie coming up in just over a month or something!
Average holding price now down to $2.73.
SNOOPY