HGH - Heartland Group Holdings

[BlackPeter]

It looks like The Government is changing the ownership matrix of Kiwibank: https://www.nzx.com/files/attachments/233264.pdf

NZ Super fund and ACC are each to take a stake in Kiwi Group Holdings leaving NZ Post with 55%. Will this ownership musical chairs be preparatory to selling a tranche to the NZ public or will it be instead of a public listing? It would be good to have Kiwibank as a complementary NZ Bank share listing alongside HBL.

Interesting - and agree: it would be a great idea to list Kiwibank - would allow them easy capital access, increase its value, increase the value of the NZX and decreases the risk that the crown would need to bail them out come the next GFC ....

However - not sure, whether this proposal is a prelude of a public listing. The crown would be likely to keep at least 51%. Selling now already 45% to ACC and Superfund leaves not much left for listing, unless they consider the ACC and Superfund bits as part of the crown ownership (which it basically is).

[Bjauck]

Interesting - and agree: it would be a great idea to list Kiwibank - would allow them easy capital access, increase its value, increase the value of the NZX and decreases the risk that the crown would need to bail them out come the next GFC ....

However - not sure, whether this proposal is a prelude of a public listing. The crown would be likely to keep at least 51%. Selling now already 45% to ACC and Superfund leaves not much left for listing, unless they consider the ACC and Superfund bits as part of the crown ownership (which it basically is).

They could always keep just one "golden Kiwi" Crown share.

[Kiwi]

Roger they did also indicate at the same time that they were looking a Tier 2 capital issue in the absence of any good acquisition opportunities presenting themselves. Maybe they have something lined up that they are running their ruler over !?

Kiwi Bank maybe?

[Hectorplains]

Kiwi Bank maybe?

Kiwibank is valued at $1.1B, that's twice HBL's capitalisation.

[GTM 3442]

Kiwibank is valued at $1.1B, that's twice HBL's capitalisation.

It would be a h*ll of a bond issue! Plus a partial float as well!

[SCOTTY]

Kiwibank is valued at $1.1B, that's twice HBL's capitalisation.

Something about a flea doing something to an elephant ��

[winner69]

Latest Global Dairy Trade auction - prices UP 2.1%

Dairy prices chart showing a positive bias - i can see Roger becoming a Heartland shareholder again

Well that theory no good

Heartland near the top of losers board today - down to $1.16

Looking ominious?

[iceman]

To the best of my recollection mate they were simply going to go ahead with the issue regardless and if they didn't acquire something they were going to do the buy-back of their own shares.
Speaking or targets and MTF, where did things get too with the Supreme court decision, anyone know ?

Don't know Roger. This from HY report back in Feb:
"In current market conditions, Heartland believes there is greater opportunity for acquisitions. Heartland wishes to assess opportunities (if any) that arise during this period of volatility and will continue to monitor its capital position (including its Tier 2 regulatory capital position) during this period. The board continues to be of the view that, in the absence of other uses of capital, Heartland’s excess capital should be returned to shareholders."

I reckon they are onto something and are assessing it. And no it isn't Kiwibank which the Government has very explicitly ruled out for private sale

[winner69]

It looks like The Government is changing the ownership matrix of Kiwibank: https://www.nzx.com/files/attachments/233264.pdf

NZ Super fund and ACC are each to take a stake in Kiwi Group Holdings leaving NZ Post with 55%. Will this ownership musical chairs be preparatory to selling a tranche to the NZ public or will it be instead of a public listing? It would be good to have Kiwibank as a complementary NZ Bank share listing alongside HBL.

James Shaw says this about the Kiwibank giveaway /financial engineering for political motives - "Far from being an elegant solution, this is a financial rort."

[Marilyn Munroe]

James Shaw says this about the Kiwibank giveaway /financial engineering for political motives - "Far from being an elegant solution, this is a financial rort."

The government must have confidence in Mickey Cullens business valuation skills.

Which is suprising given the display of his talent in the Kiwi Rail buy.

Boop boop de do
Marilyn