Forum Archive Index - September 2001

[Greg <g&jelliott@xtra.co.nz>]

Title: Re: FFS and Re: [sharechat] RBC and AIRNZ

Thanks Greg. Yes, Michael, I think that's been the general expectation for some time. I also sold out of FFS on the 11th, but it only dropped a cent or two that I noticed. Pretty insignificant. There's talk about  Kyoto and how that will affect forestry in NZ - don't know if that has any bearing on the shareprice at the moment. 

Greg E.
> From: "michael gore" <michgore@paradise.net.nz>
> Reply-To: sharechat@sharechat.co.nz
> Date: Fri, 28 Sep 2001 10:10:18 +1200
> To: <sharechat@sharechat.co.nz>
> Subject: FFS and Re: [sharechat] RBC and AIRNZ

> Ok just to clear up a basic point - sharechatters are expecting a jump in value in FFS (even if not necessarily a big one) pretty much as soon as there is a buyer for the CITIC forests.  Is that right?????
> Michael
> ----- Original Message ----- 
> > From: greg <mailto:gregoire@paradise.net.nz>  
> > To: sharechat@sharechat.co.nz 
> > 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
> >