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  1. #11
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    Investor Presentation and Listing Profile now released:

    http://www.sharechat.co.nz/article/b...sentation.html

  2. #12
    Speedy Az winner69's Avatar
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    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  3. #13
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    Certainly an intriguing setup...
    That person bidding $1.04 is certainly keen.

  4. #14
    Legend
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    Quite a lower degree of bricks & mortar with this one, if I'm not mistaken

    Probably deserves consideration as a truer health provider rather than Rest Homes owner & Property developer like others ..

  5. #15
    ShareTrader Legend Beagle's Avatar
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    Pro forma underlying EBITDA $21.3m $23.0m $23.7m
    Pre NZ IFRS 16 pro forma underlying EBITDA $8.2m $10.2m $11.0m
    Implied EV (including lease liabilities) / pro forma
    underlying EBITDA 16.5x 15.2x 14.7x
    Implied EV / Pre NZ IFRS 16 pro forma underlying EBITDA 20.3x 16.3x 15.1x
    AFFO per Share – cents 1.78 1.67 1.99
    Dividend per Share – cents at 50% of AFFO for FY2021 0.83 1.00
    *Implied dividend yield – cash dividend declared 1.04% 1.25%
    *Implied dividend yield – gross dividend declared 1.44% 1.73%

    First question is what is AFFO - I really don't have the time today to get into this but the metrics do not appear compelling at first glance.

    What I have learned over many years of investing in this sector is there is very little money in providing care services...the money is in the property development and especially the property churn.
    Last edited by Beagle; 10-12-2020 at 09:51 AM.
    Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
    Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine

  6. #16
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    $1.10 High Bid now even

    Sellers seem to have all gone on holiday..
    Last edited by nztx; 10-12-2020 at 10:12 AM.

  7. #17
    Member Onion's Avatar
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    Quote Originally Posted by Wiremu View Post
    With the current NZX rules a two-stage listing makes sense in relation to costs: 1st a clean and tidy compliance listing (no need for a back-door listing with the extra costs and complications that brings - TIL/Bethunes as an example) and 2nd, some months after listing, a fundraising offer with the market having by then established a price range.
    Not much chance of gauging price if no one is selling!

  8. #18
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    $1.20 High Bid -- Earth to any Seller out there

  9. #19
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    Holy Molly -- three Dollar 10 - boys & girls, but only for the eager must have want to buy
    Last edited by nztx; 10-12-2020 at 10:54 AM.

  10. #20
    Speedy Az winner69's Avatar
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    Quote Originally Posted by nztx View Post
    Holy Molly -- three Dollar 10 - boys & girls, but only for the eager must have want to buy
    That’s why it’s called price discovery
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

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