Napier Port IPO

[iceman]

Hopefully all will go well for them:
https://www.nzherald.co.nz/nz/napier...76MTY5HDYJUGU/

[nztx]

Hopefully all will go well for them:
https://www.nzherald.co.nz/nz/napier...76MTY5HDYJUGU/

Meanwhile KiwiRail threw out an unhappy note with Welly Port re-siting of the Cook Straight ferry terminal
with suggestion instead of Welly - Napier may be in view for possible NI terminal

Article in local HB Rag today

[macduffy]

Meanwhile KiwiRail threw out an unhappy note with Welly Port re-siting of the Cook Straight ferry terminal
with suggestion instead of Welly - Napier may be in view for possible NI terminal

Article in local HB Rag today

I think that "suggestion" has been well and truly debunked.

https://www.stuff.co.nz/national/pol...gton-to-napier

[nztx]

https://www.nzx.com/announcements/376932

Napier Port (NZX:NPH) intends to release its financial results for the nine months to 30 June 2021 on the morning of Wednesday 25 August 2021.

Will it help their God-Darn abismal pitifully low Dividend Yield - trailing most of last year as well .. ?


How do the others in Port Sector rate ?


Data from NZX site today


MMH - Marsden Maritime - EPS $0.158 NTA $3.36 Div Yield 3.59% - SP $6.21

POT - Port of Tauranga - EPS $0.134 - NTA $1.71 - Div Yield 2.416% - SP $7.03 (33% Div Reduction 20/21 over 19/20)

SPN - South Port - EPS $0.417 - NTA $1.79 - Div Yield 4.404% - SP $8.20

NPH - Port of Napier - EPS $ 0.00 - NTA $1.73 - Div Yield 3.313% - SP $3.34

[Dlownz]

https://www.nzx.com/announcements/376932




Will it help their God-Darn abismal pitifully low Dividend Yield ?

Nope it won't help
I made a nice profit on the ipo but won't be getting back in. I could never understand them listing anyway. Years before ipo they were borrowing money every year but still paying the regional council a dividend.
If they had stopped paying the dividend they could have afforded the new wharf without having to list. Poor management but funny thing is still way better the ports of Aucklsnd

[nztx]

Nope it won't help
I made a nice profit on the ipo but won't be getting back in. I could never understand them listing anyway. Years before ipo they were borrowing money every year but still paying the regional council a dividend.
If they had stopped paying the dividend they could have afforded the new wharf without having to list. Poor management but funny thing is still way better the ports of Aucklsnd

Agreed there - an element of the blame should be fairly targeted at 55% majority holder HBRC
pocketing the dividend but in process sucked out resources needed for future expansion

Having HBRC as major holder into the future is probably not doing post IPO holders any favours either
maybe being used as a bank following IPO, while collectively both get to dream on into the future ..

[Ggcc]

Agreed there - an element of the blame should be fairly targeted at 55% majority holder HBRC
pocketing the dividend but in process sucked out resources needed for future expansion

Having HBRC as major holder into the future is probably not doing post IPO holders any favours either
maybe being used as a bank following IPO, while collectively both get to dream on into the future ..

From day dot I have found the port a very overpriced share and got shut down over and over again. I must admit though that Covid has some of the blame as well for current SP. Luckily most of the of the staff I know at the port own shares in it.

I am a Napier resident and have family working at the port, but lots of staff are refusing to take Covid vaccine. They have even said they might walk off the job if forced to take it, which I find is stupid.

https://www.shippingaustralia.com.au/port-workers-required-to-get-mandatory-anti-covid-vaccine-in-new-zealand/

[RTM]

https://www.nzx.com/announcements/380812

Seems like good news, although no dollars mentioned, surprised it’s not flagged price sensitive.
Remember the wall of logs from Russia from memory that was going to derail this listing?
So far so good.
Disc: Modest holding.

[Ggcc]

$3.05 and slowly creeping lower. What is everyone’s take on fair value for this port, since we are nearing on IPO? I suppose it will be easier based after they show their accounts

[Dlownz]

$3.05 and slowly creeping lower. What is everyone’s take on fair value for this port, since we are nearing on IPO? I suppose it will be easier based after they show their accounts

Ipo was $2.60 launch price was $2.90.
I sold out at $3.50 thinking how is it that high on the yield. I'm happy with my decision