Wasteco Group Ltd ---WCO

[whatsup]

Recent placement at .05 , listed today at .08 on steady volume RTO via GWC.

[silverblizzard888]

Recent placement at .05 , listed today at .08 on steady volume RTO via GWC.

At 8 cents its a bit high for a business that is deeply in debt, I may be interested at 5 cents.

[nztx]

Past IPO's, floats etc have left a lingering indigestion issue

A wait and see job.. these guys have pile of shares on issue
so always a chance of a consolidation too

[silverblizzard888]

Past IPO's, floats etc have left a lingering indigestion issue

A wait and see job.. these guys have pile of shares on issue
so always a chance of a consolidation too

Definitely worth waiting till the share price find its true value over time and for the management team to get some runs on the board.

[YoungBull]

Will watch this with keen interest - my gut likes waste businesses, they seem safe. Does anyone have any experience in this sector? What typically makes a waste company profitable, and how does it grow?

[SailorRob]

This is the document to study, preferably from the back to the front.

http://nzx-prod-s7fsd7f98s.s3-websit...572/385021.pdf

[etrader]

Thanks for the link, looks to be growing year on year with some competitors absorbed into the mix.

Reading the document you can see the intentions to potentially open in the north where the density of people creates scale.

Will be interesting to see year end once new shareholders have bedded in.

Currently is the only listed waste stock so could create some loyalty as its local, $55 million cap value debt free $4 mill in cash and around $33 million in assets.

I like the Verticles around waste, recycling, rubbish tippers, medical waste all under on larger location from what I can read.

As this was a back door listing they’ve disclosed a statement of the business outlining turnover, profit/loss and their vision to expand which sounds on track but I’m guessing won’t be till 31 March year end before we get a decent understanding of how it’s tracking.

Founders own around 74% of the enlarged company, the previous shareholders of the listed shell a couple of % and 12% of new shareholders.

I’ve chucked in a couple of grand just to tuck under the mat for a 5 year hold so let’s see how the next 3 - 5 years track

[Entrep]

Will put this one on my watchlist. Definitely interested lower.

[silverblizzard888]

[etrader]

With NZ’s only listed waste company logic would say there’s a fragmented market with lots of smaller established rubbish runs through the country.

Vendors could either exit with a payout or issue new shares to expand regionally over the coming years.

They recently were in Deloittes 50 for 5 year growth which means back in 2018 to have min turnover of $5 mill, they came in 9th fastest with just this year alone 80% plus.

I’ve been collecting a small holding around 8c when parcels come up.