Auckland International Airport Limited (AIA)

**percy** · 07-02-2013, 05:57 AM

Originally Posted by robbo24

I've had these since the IPO - never seen a reason to offload them because they pay good dividends

Hoping that Hobbit-fever will raise passenger numbers a little!

I too am happy to hold.I noted when I was there last week that work had already started on drop off/pick up roadway.

**modandm** · 07-02-2013, 08:09 AM

Well done to all holders. A fantastic business, maybe even the best quality listed co in NZ. BUT - it is even more expensive than it has been in the past. I don't expect it to fall but there are better investments in the world.

I think SKC - which is like a sister (regulated monopoly) is a much better option. Better yield, and growth at a cheaper multiple.

With AIA all the near term pax growth is domestic and therefore lower margin for them, meanwhile capex plans continue to get deferred ad infinitum. How sustainable is the dividend? Will the regulator step in? Questions I would be asking myself.

**macduffy** · 07-02-2013, 11:05 AM

AIA hit a peak of around $3.50 in November 2007 as a result of the takeover bid from the Canada Pension Plan which offered $3.65, later increased to (from memory) $3.80.

That was then........

**modandm** · 08-02-2013, 10:53 AM

Originally Posted by modandm

Well done to all holders. A fantastic business, maybe even the best quality listed co in NZ. BUT - it is even more expensive than it has been in the past. I don't expect it to fall but there are better investments in the world.

I think SKC - which is like a sister (regulated monopoly) is a much better option. Better yield, and growth at a cheaper multiple.

With AIA all the near term pax growth is domestic and therefore lower margin for them, meanwhile capex plans continue to get deferred ad infinitum. How sustainable is the dividend? Will the regulator step in? Questions I would be asking myself.

like i said: http://www.nzherald.co.nz/business/n...ectid=10864124

regulators will get you

**macduffy** · 14-02-2013, 09:07 PM

Reports out of Aussie that Morrison and Co Funds Management are offering a block of 100.5m AIA at $2.76.

Last sale today $2.94.

**Joshuatree** · 15-02-2013, 10:03 AM

Craigs have just rung me re this @ $2.75 for anyone int.

**minimoke** · 15-02-2013, 10:19 AM

Somone off shore is shopping at bargain prices. They just picked up 100,000,000 shares so that will deflate prices for a wee while.

CJ · 15-02-2013, 10:30 AM

Originally Posted by Joshuatree

Craigs have just rung me re this @ $2.75 for anyone int.

Selling at less that the Super Fund sold at?

Whats everyone's veiw on the Super Fund selling down from ~8% to ~2%. Just cashing in on high price or view risk from Comcom following Wellington Airport outburst recently??

Where is the Superfund going to build a slushfund for MRP and other IPO's to come this year.

The New Zealand Superannuation Fund sold 7.6 percent of Auckland International Airport for a 6 percent discount, raising $276 million and benefiting from a share price near a five-year high.
The selldown was initiated by Morrison & Co Funds Management, which managed the investment for the fund. The sale was managed and underwritten by UBS New Zealand. The shares were sold overnight to institutions at $2.76 apiece, below yesterday's close of $2.94, which was the highest since November 2007.
"We are always looking to get the best return we can on our investment portfolio and to ensure we have the right mix of investments in our fund," general manager of investments Matt Whineray said in a statement.
"In conjunction with our investment manager Morrison & Co we have taken the opportunity presented by the current strong New Zealand share market and good demand for the shares to reduce our large overweight position in AIA," he said.
The transaction comes a week ahead of the airport company reporting its first-half results next week, which are expected to show a 3.1 percent increase in revenue to $222.5 million and reported profit before items up 4.2 percent to $73.7 million, according to Forsyth Barr analyst Andy Bowley.
The fund has some $3 billion of its holdings invested in New Zealand, including recent purchases of 35 percent of Datacom and an increase in its stake in Kaingaroa Forest.
Shares of Auckland Airport are rated a 'hold' based on the consensus of 10 analysts polled by Reuters, with a median price target of $2.81.
The fund retains a 2 percent holding of Auckland Airport, it said.