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Thread: FXL Flexigroup

  1. #161
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    Into the $2.10's now... Great stuff.
    Just need an ok announcement to keep the party going.

  2. #162
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    Quote Originally Posted by trader_jackson View Post
    Into the $2.10's now... Great stuff.
    Just need an ok announcement to keep the party going.
    Be $2.50 before we know it ...certain as ....hope so
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  3. #163
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    Quote Originally Posted by winner69 View Post
    Be $2.50 before we know it ...certain as ....hope so
    Basically at $2.20 today, this time last month we weren't even at $1.70... a 50c rise in 1 month... so yea will probably be $2.50 by June.
    Some say $3 is certain as
    Last edited by trader_jackson; 16-05-2018 at 07:04 PM.

  4. #164
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    Quote Originally Posted by trader_jackson View Post
    Basically at $2.20 today, this time last month we weren't even at $1.70... a 50c rise in 1 month... so yea will probably be $2.50 by June.
    Some say $3 is certain as
    $2.25 at this moment, its no "$2.50 by June", but maybe by end of June.
    $3 still certain as

  5. #165
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    Im not saying anything bout the s/p, havnt you guys learned not to hex the s/p by talking about it.DOH!

  6. #166
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    Just as FlexiGroup shares recover, rumours of delisting surface
    SCOTT MURDOCH JUNE 07, 2018It has been some time since listed lender FlexiGroup has made headlines, but while the group’s board is lying low, some wonder whether another privatisation attempt is back on.

    Rumours have surfaced in the past fortnight that the consumer and commercial lender may be heading for a delisting in a move that would no doubt be prompted by its founding chairman Andrew Abercrombie, who controls just over 24 per cent of the stock.

  7. #167
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    ...
    The timing may seem odd, given shares in FlexiGroup have just started to rally after a boardroom bust-up about two years ago.

    But Abercrombie has been rumoured before to have considered such a move and market analysts and shareholders say it would come as no surprise if he was working something up behind the scenes with a private equity firm.

    In 2015, TPG Capital, Kohlberg Kravis Roberts and investment bank Macquarie were all said to have approached the company.

    KKR considered a deal where it would buy not only FlexiGroup but the General Electric Consumer Finance operation which was sold around the time to KKR, Varde Partners and Deutsche Bank for $8.3 billion. KKR progressed on the plan but it is understood it was unhappy about paying 16 times FlexiGroup’s earnings for the business (the ratio it was trading at then) when it was buying the GE business at about 12 times earnings.

    Another off-putting factor for the private equity group was that Abercrombie was understood to have been keen to be a shareholder of the new GE and FlexiGroup entity.

    While there were rumours at the time about private equity circling Flexi, National Australia Bank also had sounded out an acquisition of the company, about four years ago.

    The bank is understood to have become nervous about one of Flexi’s products, where money continued to be debited from a customer’s account even after the loan was paid down and it was a situation where it was up to the customer, not the lender, to discontinue the direct debit payment.

    The bank feared it might have been liable for large customer repayments.

    Quite the revelation! Share price action over the coming days, as well as any comment by Flexi directly, could be interesting.

  8. #168
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    I can't remember if I mentioned it on here or not, but I remember when I saw an article a few months back that the Lattitude Financial IPO will be delayed due to "something big" they were working on, I thought it could be related to them possibly taking over/merging with Flexi in some way, shape or form - it seems this has been previous considered a few years back, which is also not that surprising to hear given both are very material players in the unsecured financing (namely credit card) markets.


    Abercrombie is a smart guy - and if he can't have a piece of the action, he'll be wanting an even higher price to help compensate, but I would think no less than the mid $3 for a takeover offer (either to take private or by Latitude Financial), and really $4+ would be 'more convincing' in my view.


    While this is all very hypothetical and far from a done deal, it certainly makes things more interesting!


    Hard to believe that FXL are actually still trading at under 10 price to cash NPAT earnings (if they hit the midpoint of their $85-90m guidance and assuming no upgrades)... One thing is clear from all this stuff: they really were 'stupidly' cheap around the mid $1's not even a year ago.

  9. #169
    Speedy Az winner69's Avatar
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    Could be our get out of jail card eh tj

    Sorry mate, couldn't resist that
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  10. #170
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    Quote Originally Posted by winner69 View Post
    Could be our get out of jail card eh tj

    Sorry mate, couldn't resist that
    Must have a few of those cards in my back pocket now ae... eg OCA - I broke the news first that they were to list at 79c, and was one of the first, if not the first, to exclaim how cheap this was while many others 'refused to believe' such things.
    And we won't talk about that dog ARV

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