Infratil on a tear today. TECT the only news AFAIK. Would that have this effect?
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Infratil on a tear today. TECT the only news AFAIK. Would that have this effect?
Does anyone have any thoughts on the share buy back? My simple maths tells me around 9% of shares could be purchased. $3.50 TP on the back of that at the TECT issue going away?
They do have around $580m in cash just lying around the house... share bb stated "will not exceed 50million shares"
Quite a lot to buy over the next 3 months, doubt they are going to reach that many sellers... will also cost them around $150m.
They have searched the market and found the best buying opportunity... themselves.
I think they can only buy back if the internal analysis shows the value of the shares on the market are under the value of the internal analysis.i.e. they are underpriced.
Its hard to find value out there at the moment with the prices on offer and their shares are offering good value with the TECT things going on with it going down.
looks like a down grade for 2019 earnings