Got another 71,000 yesterday. That's 2millon bucks worth must be very confident indeed.:t_up:
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Got another 71,000 yesterday. That's 2millon bucks worth must be very confident indeed.:t_up:
Infratil can redeem these bonds for cash. If there is a default event then they are redeemed for cash or converted into shares.
https://www.chrislee.co.nz/uploads//...ents/IFTHA.pdf
type of instrument
Infrastructure Bonds are unsecured, unsubordinated, convertible debt obligations of Infratil.
But they will only redeem/convert under certain situations-which all things being equal will probably not eventuate. So best to consider them perpetual (PIIB). Maturity date is about the year 3000, so in effect-perpetual/no maturity (that is of concern to present investors). A bit more from the PDS/Flyer;
No Maturity Date: PIIBs have no Maturity Date. Accordingly
Infratil is not obliged to repay the PIIBs, and Holders of PIIBs
cannot require Infratil to repay their PIIBs, unless an event of
default or a compulsory acquisition occurs as set out in the
Trust Deed which results in an early redemption or conversion
of their PIIBs. This means that the only way in which a Holder
of PIIBs can cash in his or her investment, other than for the
limited circumstances described above, is to sell them.
There is a more up to date posting (sort of Q&A) on Infratil's web site explaining their rationale for not redeeming/repurchasing/converting the IFTHA bonds (as had been called for by some holders/brokers).
Basically, unless the company is bought out/taken over (or one of the other limited circumstances listed) these bonds are here to stay in their current form.
I certainly won't be complaining if they choose to redeem them. But at my average buy in price I'm also more than happy holding them.
“Pressures, profits and patients: Debate rages around ethics of private medical scanning”
https://www.rnz.co.nz/news/national/...dical-scanning
Maybe the government should just make it all public. Oh wait they can't as it won't make a profit or at least break even and always needs reinvesting.....
Some people always complain when private health companies make a profit. Most of us get it and understand it. Nothing much will come of this I feel.
A big tick. Showing how it should be done
“What was so awesome about that is that we were successful in standing up our own enterprise Resource Planning (ERP) across all key functions - finance, HR, supply Chain and procurement - in just nine months. Frankly, that is a little bit unheard of, especially on the sort of scale and size of organisation that we have,” Haddad says. What’s more, the OfficeIT stream - end user technology including staff accounts, associated security tools and onboarding processes - came in under budget."
https://businessdesk.co.nz/sponsored...9223-446239310
Lining up the Super Fund for a healthy chunk.
$9.33 - IFT is the best alpha play on NZX
In 2022, some key share purchases - there's been 2 rounds of MCO at $40m, one $2m from CEO, one $0.5m from a new director, and friday something like $7m traded - no idea by whom (re the latest buys) - could be the buy backs....
There appears to be 'smart money' going in, the renewables and data centres are basically on fire in a good way - loads of investment optionality - just what IFT love. Vodafone will be sold down at a massive premium in the next 1-2 years. They're spread across a range of jurisdictions and with multiple ways of exiting any of their 'platforms' at above current analyst NZX pricing- it's shooting fish in a barrel for anyone with a decent time horizon. This is not a boring infrastructure company. This is a sophisticated PE player increasingly in exciting high growth verticals making all the right moves with pedigree to boot. No major exposure to dubious geo political markets, or recessionary consumer businesses. This is a one of those investment snow balls, and it's only just gaining momentum down a global slope (very long). As an aside MCO will go global because they're very incentivised to go global. Fine by me.
What is the best way to measure IFT performance?
Book value per share?