Sharechat Logo

Forum Archive Index - August 2001

Please note usage of the Forum is subject to the Terms & Conditions.

 
Messages by Date [ Next by Date Previous by Date ]
Messages by Thread [ Next by Thread Previous by Thread ]
Post to the Forum [ New message Reply to this message ]
Printable version
 

Re: [sharechat] fletcher forists


From: "greg" <gregoire@paradise.net.nz>
Date: Fri, 17 Aug 2001 13:00:14 +1200


Graeme,
 
from what I can gather Fletcher Forest's NTA is about 58cps.  This figure uses market valuation of the forest estate but assumes the company will recover all of its US$225m debt from the CNIFP sale.
 
The receivers in charge of the CNIFP are actively seeking bids (with the help of FFS it seems).  The biggest influence on the share price in the short term is likely to be this sale process.  If the assets are sold so that FFS can recover the whole US$225m (or even more) then there is likely to be a substantial rise in the share price.  On the other hand if FFS can manage to put together a consortium to buy the assets then the price will also rise - but possibly not as sharply as if another company bought the assets outright (FFS would then be a clear takeover target as current manager of the CNIFP forest).
 
The current price has drifted down from 34c again, possibly this time due to the weakening US dollar.  I think the debt remains in US currency so FFS is in effect slightly worse off (can anybody confirm this?)
 
Rgds,
greg
 
disc:  Own FFS
 

Replies

 
Messages by Date [ Next by Date: Re: [sharechat] fletcher forists Paul and Noriko
Previous by Date: [sharechat] Busy, busy, busy...... Philip Robinson ]
Messages by Thread [ Next by Thread: Re: [sharechat] fletcher forists Paul and Noriko
Previous by Thread: [sharechat] fletcher forists Graeme O'Donnell & family ]
Post to the Forum [ New message Reply to this message ]