Yes, I think the whole retirement has just been shaken around firstly by the wage agreement and supposed impact of property price slowdown (more so in Akl).
Think it'll take a while for the market to digest this all and rerate the sector.
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And in the meantime Nana needs to go into care.
Have not been able to stop her growing older.
She is not alone.
Luckily the sale of her property means she could buy two or three units.She will only require one.
Nice one Percy, even after an abysmal week for the retirement sector stocks, which is most annoying and inconvenient, buyers will still be lining up at an ever increasing rate. Once the market stops throwing it's toys out of the cot, it will realise, it's just business as usual.
Not a flash debut, wasn't it.
Closed flat, stags out of luck on listing, will be interesting to see what coming weeks have in offer.
I think they did very well not to be caught immediately in the current sector down draught that would be top of mind for the promoters.
Stags would be few imo if they had considered that. In an up trending sector, sure, the stags would be all over this. I'm not sure many were though, it was too risky with the sector backdrop to stag an IPO profit.
The market today verified its listing price as fair and reasonable, and the promoters will earn their commission regardless.
On Monday the company is listed alongside the others. From here on the market determines the company value.
My view is that in the short term at least, they will suffer the downdraft associated with the sector, the SP will move with it and the investors who have done their homework will flick out on a slightest move southwards and buy back in later.
Personally I think it's at fair value on the information provided but as some suggest that information may be overly optimistic. Seems a risky play until it settles in to a rhythm.
For those interested, 73% of Oceania's total product is in care beds currently, however they have a 7-8 years worth of land bank, so plenty of scope for unit expansion.