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Thread: Link Group IPO

  1. #1
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    Default Link Group IPO

    Last edited by macduffy; 30-09-2015 at 08:38 PM.

  2. #2
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    Link Group an interesting IPO
    Sean Fenton, Tribeca Investment Partners

    Link Group is one of the more interesting IPOs to come market this year. Founded in 2000, Link started as a pure share registry business before entering super administration in 2005. Since then, the business has benefited from the shift towards outsourcing in super administration. Today Link manages 9 million super accounts and ihe largest provider of super administration in Australia. The Superpartners acquisition, completed in December last year, offers a unique opportunity to cement Link’s dominant position in this market. Link has a fantastic record migrating clients’ members onto their platform, having completed 80 such migrations since 2008. We believe cost synergies from the Superpartners transaction will underpin robust earnings growth for the next three years. Longer term, the tremendous scale benefits in fund administration make it difficult for smaller providers to compete on cost. This strong position means that Link is likely to gain further clients if outsourcing continues."

    The public offer part of the IPO closed recently. It will be interesting to see how it performs.

  3. #3
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    It "perfomed" very nicely on debut!

    http://www.smh.com.au/business/banki...26-gkio08.html

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    Nice one macd, quality company by the looks with growth "all ahead of it"
    TICKER is LNK folks

  5. #5
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    LNK on track at the half year.

    http://www.asx.com.au/asxpdf/2016022...0lq80fyxlj.pdf

    Disc: Not holding.

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    Picked up some for our estate today.Brexit uncertainty offers an opportunity longer term imo. DYOR

    Download Document 178.24KB

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    growth (esp in e.p.s. ) is not occuring although they've taken some good profits on divestments
    they seem to be working very hard to stay still at the moment. not saying it wont happen, but it isnt happening yet.
    For clarity, nothing I say is advice....

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    Cheers peat ,Pexa and the UK pension admin market look to be value adders ,the free cash flow and monopolistic nature of LNKS's business appeal . Its a medium term value stock hold for our more conservative Estate but not for me ,atpit, i take a bit more risk and go for higher returns. Too complicated for me to understand the financials but have done some reading of others who are experts forensically and our Brokers have it in their recco portfolio too. Good fit for us.

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    Looks like a great bolt on and s/p up re 12% today atp.

    Download Document 251.22KB

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    Quote Originally Posted by Joshuatree View Post
    Looks like a great bolt on and s/p up re 12% today atp.

    Download Document 251.22KB
    eps accretive (buzz word at present)
    but is this because of what Snoopy said?
    For clarity, nothing I say is advice....

  11. #11
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    market punishing the interim out today.
    I'm trying to see if this is not as bad as it looks and the best I can find is that operating earnings per share are only down 11%
    it might well be the transformation process is taking place effectively so perhaps some leniency on this period, but they're still expecting full year to be down about the same % so as I said before struggling to stay still , but now struggling to go backwards
    For clarity, nothing I say is advice....

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    Ive heard 3 segments of the company are doing well and 2 are not. Just slammed the bottom drawer shut on this one on a 3 year time frame.

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    A bit late of getting a stash at 396 yesterday.

    disc: first time holder

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