AFT Pharmaceuticals

[whatsup]

Another SPP first for AFT since listing , yummee !

[trader_jackson]

Yesterday Forsyth started coverage, then today we hear about a selldown... I'm not surprised at all about a sell down and this will significant increase liquidity (almost tripling free float), helping push the share price higher than ever before, and putting it a step closer to entering the NZX 50.

AFT has done a SPP before whatsup... Back in March 2017 they did one (at less than half of where the share price is today).

Forsyth probably going to give a target price now, I reckon mid $5's... a year ago the share price was $3.00.

Final price probably going to be a good chunk above $3.65... exciting stuff.

[winner69]

Yesterday Forsyth started coverage, then today we hear about a selldown... I'm not surprised at all about a sell down and this will significant increase liquidity (almost tripling free float), helping push the share price higher than ever before, and putting it a step closer to entering the NZX 50.

Timely that coverage from Forbar eh .......

[Cadalac123]

3.65$ wow I bet all the shareholders are estatic about this

[whatsup]

Yesterday Forsyth started coverage, then today we hear about a selldown... I'm not surprised at all about a sell down and this will significant increase liquidity (almost tripling free float), helping push the share price higher than ever before, and putting it a step closer to entering the NZX 50.

AFT has done a SPP before whatsup... Back in March 2017 they did one (at less than half of where the share price is today).

Forsyth probably going to give a target price now, I reckon mid $5's

Exciting stuff.

Trader, thanx for that missed it a real growth company at the moment imo !

[BlackPeter]

Yesterday Forsyth started coverage, then today we hear about a selldown... I'm not surprised at all about a sell down and this will significant increase liquidity (almost tripling free float), helping push the share price higher than ever before, and putting it a step closer to entering the NZX 50.

AFT has done a SPP before whatsup... Back in March 2017 they did one (at less than half of where the share price is today).

Forsyth probably going to give a target price now, I reckon mid $5's... a year ago the share price was $3.00.

Final price probably going to be a good chunk above $3.65... exciting stuff.

Amazing - how altruistic and nice of them they sell lots of shares down to increase liquidity. These big share holders are really just thinking about the benefit of the wee guys - don't they?

Just trying to remember previous sell downs in order to support the wee retail shareholders:

CBL insurance (sell down somewhere around $2.40 - now worthless)

OCA (sell down at $1.10 and later at $1.20)

TRA (sell down from memory somewhere around $1.90)

Trilogy - partial sell down well above the later takeover price

While two of the examples are still around and at least one of them (OCA) might do long term really well - In all cases would shareholders have done much better if they would have sold at sell down time and picked up some shares later.

Ignore at your peril if big share holders sell out ....

Discl: neither short nor long ...

[trader_jackson]

Amazing - how altruistic and nice of them they sell lots of shares down to increase liquidity. These big share holders are really just thinking about the benefit of the wee guys - don't they?

Just trying to remember previous sell downs in order to support the wee retail shareholders:

CBL insurance (sell down somewhere around $2.40 - now worthless)

OCA (sell down at $1.10 and later at $1.20)

TRA (sell down from memory somewhere around $1.90)

Trilogy - partial sell down well above the later takeover price

While two of the examples are still around and at least one of them (OCA) might do long term really well - In all cases would shareholders have done much better if they would have sold at sell down time and picked up some shares later.

Ignore at your peril if big share holders sell out ....

Discl: neither short nor long ...

CRG was always going to sell out - but not at $2 or $3, and possibly not at sub $4 either.
The founder still owns 69%, when taking into account other management shareholdings, this is in excess of 70% - I don't know of any of those companies above that have a founder/management owning well in excess of 2/3rds of the business with a founder still with the business since day 1 (over 20 years ago) topped off by the fact this business has grown virtually entirely organically since day 1 (not a roll up or via acquisitions)... a big (ish) sell down by somebody is almost overdue in some ways!
So yes, I would confidently say "this time is different" to all of the examples you have provided above, in fact, I reckon it is borderline insulting comparing this sell down to those company's sell downs.
Nice that retail shareholders get a bite at cheap shares via the SPP (not just a big placement to insto's with almost nothing left for other shareholders) - and given I doubt the founder and CRG will be participating via the SPP, it should be able to be shared around nicely.

[BlackPeter]

CRG was always going to sell out - but not at $2 or $3, and possibly not at sub $4 either.
The founder still owns 69%, when taking into account other management shareholdings, this is in excess of 70% - I don't know of any of those companies above that have a founder/management owning well in excess of 2/3rds of the business with a founder still with the business since day 1 (over 20 years ago) topped off by the fact this business has grown virtually entirely organically since day 1 (not a roll up or via acquisitions)... a big (ish) sell down by somebody is almost overdue in some ways!
So yes, I would confidently say "this time is different" to all of the examples you have provided above, in fact, I reckon it is borderline insulting comparing this sell down to those company's sell downs.
Nice that retail shareholders get a bite at cheap shares via the SPP (not just a big placement to insto's with almost nothing left for other shareholders) - and given I doubt the founder and CRG will be participating via the SPP, it should be able to be shared around nicely.

Actually - the situation around CBL Insurance (large holding for many years of the people establishing the company, and still large holding of board / owners left after the sell down) was quite similar.

But hey - I am not saying that AFT is the same as CBL insurance ... and no intention to hurt anybody's feelings. Just observing and noticing that your posts frequently seem to lack some balance.

It just feels that AFT is already quite dear with a forward PE of 30 and a Revenue CAGR around 14%. Markets rarely value growth during bear markets - and this is what I expect to knock quite soon at our doors.

I guess time will tell, whether it was this time the down sellers or (as usually) the buyers who got the wrong end of the stick ... but anyway, good luck with your holding.

This is a free forum, isn't it?

[trader_jackson]

Actually - the situation around CBL Insurance (large holding for many years of the people establishing the company, and still large holding of board / owners left after the sell down) was quite similar.

But hey - I am not saying that AFT is the same as CBL insurance ... and no intention to hurt anybody's feelings. Just observing and noticing that your posts frequently seem to lack some balance.

It just feels that AFT is already quite dear with a forward PE of 30 and a Revenue CAGR around 14%. Markets rarely value growth during bear markets - and this is what I expect to knock quite soon at our doors.

I guess time will tell, whether it was this time the down sellers or (as usually) the buyers who got the wrong end of the stick ... but anyway, good luck with your holding.

This is a free forum, isn't it?

I absolutely welcome your or anybody's comments... but I believe they are sometimes misinformed (or come across that way)... like thinking Maxigesic is the only product AFT do (or at least this is what it sounded like you were saying) or comparing sell downs of other companies, when this one is very, very different... hence not really that relevant to make the point made, but I still do appreciate balance to my bullish views, if it is 'valid'.

AFT is dear, and I look forward to FPH falling to the mid teen's in such a market!

[BlackPeter]

I absolutely welcome your or anybody's comments... but I believe they are sometimes misinformed (or come across that way)... like thinking Maxigesic is the only product AFT do (or at least this is what it sounded like you were saying) or comparing sell downs of other companies, when this one is very, very different... hence not really that relevant to make the point made, but I still do appreciate balance to my bullish views, if it is 'valid'.

AFT is dear, and I look forward to FPH falling to the mid teen's in such a market!

AFT is not FPH either ... ;