Sent: Thursday, September 27, 2001 10:46
PM
Subject: Re: [sharechat] RBC and
AIRNZ
Greg,
FFS is trading at about 57% of NTA (46cps)
at the moment whereas RBC is trading at about 62% of NTA (108cps).
However, I think RBC are perceived to be more switched on and transparent than
FFS. They certainly do what the say, and keep the shareholders well
informed.
I emailed FFS a few days ago and asked if they
had heard anything from the receiver about the bids for the CNIFP
assets. I was told that they hadn't heard anything apart from what was
in the media.
As far as the media goes I have seen two reports
saying completely different things. One report in the Sunday Star Times
(last Sunday) reported good interest with about 6 bids (including possibly a
US forestry giant, name escapes me), and with Citic being told its bid was not
being considered. The second report in the NZ Herald last weekend said
there were only 3 bids with one from Citic.
I'm not too sure what RBC are doing with their
biotech assets, but their main play at the moment seems to be the strategic
stake in FFS.
I probably haven't helped much. I sold my
entire portfolio the day of the terrorist attacks then bought back into FFS at
an average of about 25c.
Rgds,
greg
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