Its FTSE Indexing..PEB and another that I cant recall involved as well as IFT
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Its FTSE Indexing..PEB and another that I cant recall involved as well as IFT
Thanks for that. Seems a bit counter intuitive to me.
Paywalled article by in the Herald today, re Jason Boyes stepping up to CEO. Couple of brief excerpts ....
"On the one hand he could - through no fault of his own - become one of the shortest-serving chief executives in NZX history, while on the other, he could find himself in charge of deploying a vast sum of money at a time when valuations of the types of assets Infratil owns and invests in are changing at unprecedented speed."
" ...we thought we were sharp before AusSuper came along, but we're laser focused now, no doubt about it."
Posted to the Wrong thread!
Sold out of these a month or Two back for 7.40 odd, as so no real reason to continue holding. The upside had materialised so locked it in.
Not been paying attention since. Are the Aussies still buying them out? As noticed price starting to drift downwards
ASX announcement tonight advising that PowerAR and Mercury have increased the consideration in the TLT scheme of Arrangement from $7.80 to $8.10 per share. IFT's gross proceeds increase by $74 m to $2,000 m. This also increases the Morrison & Co management fee by $11 m.
60 million, current market cap of IFT nearly 6 billion so 1%= 6-7 cents per share
Current market cap is NZ$5b, at $7/share. Not sure what that factors in for Tilt. Valuation of Tilt asset in last report was I think $780m, current offers value this asset at $2b.
So what are we thinking they’ll do with the incoming TLT funds? Lots of potential to invest into existing businesses but they also have a history of returning some funds via a special dividend when they exit a business.. maybe some kind of balance between the two
There may be a small special dividend but I'd expect Infratil to find plenty of attractive uses for the capital. Don't forget there may be additional proceeds for Trustpower retail upcoming too. So we're talking about around up to $2.5bn of capital to deploy. The public info Infratil publish is normally a big clue on where they're headed. So in addition to the existing portfolio of renewable energy, data, aged care, and airports they are very open on the potential for healthcare, water, and waste and recycling.
IFT started putting their money to work .
.https://www.nzx.com/announcements/371352
Commerce Commission wins 'FibreX' case against Vodafone
https://www.stuff.co.nz/business/124973808/commerce-commission-wins-fibrex-case-against-vodafone
Pleased with the sounds of that move.
I don’t mind paying high fees for a good job. Over the years I have held IFT, its performance has exceeded that of the NZX50 by a good margin.
It is worth posting this item (again) from December 2020.
https://www.newsroom.co.nz/deficient...a-risk-for-nzx
$100 invested on listing in 1994 with all dividends and distributions reinvested would be worth about $5,500 today. I think that far exceeds the return from the NZX50 gross index.
So a radiologist is worth almost $10m each?