Update on results of the options conversion
http://www.stocknessmonster.com/news...E=ASX&N=301403
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Update on results of the options conversion
http://www.stocknessmonster.com/news...E=ASX&N=301403
Anyone have handy the cash per share on NZO post conversion? With all the money in the bank I guess it could be a significant sum/share now.
Stocknessmonster says 92.5% of options have been exercised, raising NZ$192,724,465.50
47 cents for FY08F, according to a recent valuation, based on a 90% oppies conversion rate, so maybe slightly higher, as it came in at 92.5%
You can find oodles of such info if you just research on NZO website under Investor Section/Broker research. I'm referring to John Kidd's June 23 research note - puts the total DCF value at $2.32 with upside....
With NZO's market cap of around $650m (per this morning's announcement) this places the company as the 14th largest stock on the NZX, ahead of the current 14th and 15th placed; F&P Appliances ($521m) and Nuplex ($413m).
So, surely its just a matter of time until NZO breaks into the Index, leading to a scramble for stock from the Instos/Index funds similar to the recent run up when PRC entered the top 50?
The current numbers are obviously based on "depressed" share prices for all stocks (15% oversold if you believe the report out from Forsyth Barr today) but surely NZO has more potential for a price re-rating once the Annual Report is published, no doubt amongst some rather depressing numbers from other big name NZ companies.
At $2.00 NZO would over-take the next biggest company in the NZ15 Index; AMP NZ Office Trust (at $770m).
Bob C
Disc. Holding NZO and buckled in for lift-off.....
any idea if there will be daily reports now that momoho drill into the target?
M
It's net cash of 47 cents
They do have debt on the other side, and whilst the dosh is flooding in from Tui, doubtless there's a fair bit coming out of Arkwright's till for sundries.
BTW, Energy Index getting trashed here in NYK this morning.....Transport is taking the gains......
oil getting wacked a bit over the last 2 days and quite rightly so. The dramatic rise in oil prices is creating a lot of volatility. Im hoping for some stabililty around $100 to $120.
One thing i do no is i dont know the short term of oil prices. Go up $160 plus or sub $110 in the next 4 to 8 weeks or stay somewhere in the middle? Oh for a crystal ball.