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Daily ShareChat: Infratil

By Jenny Ruth

Wednesday 9th December 2009

Text too small?
Jenny Ruth

Greenspark's takeover bid for at least 50.1% of Australia-based Energy Developments will probably succeed, even though Energy Developments' board is unlikely to endorse the bid, says First NZ Capital analyst Rob Bode.

That means Infratil is likely to sell its 32.5% stake at last, realising about $178 million at the current exchange rate. That should boost Infratil's reported earnings for the year ending March 2010 by about $98 million, partly reversing the $114 million write-down in 2009, Bode says.

The sale will put Infratil in a good position it fund its potential acquisition of the Shell New Zealand distribution and retail assets without unduly stressing its balance sheet, he says.

"Infratil shares remain at a hefty discount to valuation, reflecting confusion and uncertainty over the portfolio re-balancing and the potential acquisition" of the Shell assets.

"While in the near-term investment in Infratil is speculative due to potential changes in the portfolio, we retain a constructive view on the share price recovering in the next 12 months," Bode says.

"We think value exists well beyond current levels and we expect Infratil will successfully execute its portfolio re-balancing in this time frame."

Bode values Infratil's shares at $2.15, well above yesterday's $1.65 closing price.

 

BROKER CALL:  First NZ Capital rate Infratil as outperform.

 

Daily ShareChat articles report how the main experts in the market might view a certain share and we provide this commentary as a useful resource for investors. Content on this site does not in any way constitute a recommendation to buy, hold or sell any particular share. Investors should always seek professional advice before making any investment decisions.

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Get quotes for Infratil Limited Ordinary Shares (IFT)
NZX Annoucements for IFT
30 Aug 2010 GENERAL: IFT130: Infrastructure Bonds Maturing 15 November 2010
26 Aug 2010 MONTHLY: IFT: Infratil Monthly Operational Update
26 Aug 2010 LISTING: IFT: Admission to ASX Official List
19 Aug 2010 BUYBACK: IFT: Perpetual Infratil Infrastructure Bonds (PIIBs) Buyback
18 Aug 2010 ALLOT: IFTHA: Perpetual Infratil Infrastructure Bonds (PIIBs) Buyback
17 Aug 2010 BUYBACK: IFT: Perpetual Infratil Infrastructure Bonds (PIIBs) Buyback
13 Aug 2010 GENERAL: IFT: Greenstone Energy bond issue
11 Aug 2010 MEETING: IFT: Annual Meeting
11 Aug 2010 ADDRESS: IFT: Annual Meeting Presentation
6 Aug 2010 GENERAL: IFT: ASX Listing of Ordinary Shares
2 Aug 2010 APPNDX7: IFTHA: Perpetual Infrastructure Bonds Interest Payment (IFTHA)
2 Aug 2010 APPNDX7: IFT090: 15 February 2020 Bonds Interest Payment (IFT090)
2 Aug 2010 APPNDX7: IFT140: 15 Nov 2011 Bonds - Interest Payment (IFT040)
2 Aug 2010 APPNDX7: IFT130: 15 Nov 2010 Bonds Interest Payment (IFT130)
2 Aug 2010 APPNDX7: IFT110: 15 Nov 2012 Bonds Interest Payment (IFT110)
2 Aug 2010 APPNDX7: IFT070: 15 Nov 2015 Bonds Interest Payment (IFT070)
2 Aug 2010 APPNDX7: IFT140: 15 May 2011 Bonds - Interest Payment (IFT140)
30 Jul 2010 MONTHLY: IFT: Infratil Monthly Operational Update
23 Jul 2010 BUYBACK: IFT: Share Buyback
22 Jul 2010 BUYBACK: IFT: Share Buyback
21 Jul 2010 BUYBACK: IFT: Share Buyback
13 Jul 2010 WAV/RULE: IFT: NZX Regulation - IFT - Waiver NZSX Listing Rule 7.3.2b)
13 Jul 2010 MEETING: IFT: Infratil Notice of Meeting
13 Jul 2010 MEETING: IFT: Infratil Notice of Meeting
6 Jul 2010 GENERAL: IFT: ASX Listing of Ordinary Shares
30 Jun 2010 ALLOT: IFT: Exercise of Warrants
29 Jun 2010 RELINT: IFT: Director and Officer Disclosure
28 Jun 2010 ANNREP: IFT: Infratil Annual Report 2010
25 Jun 2010 RELINT: IFT: Ongoing Disclosure Notice (Lib Petagna)
25 Jun 2010 RELINT: IFT: Ongoing Disclosure Notice (Tim Brown)
25 Jun 2010 RELINT: IFT: Disclosure of Directors and Officers - Kevin Baker
25 Jun 2010 DRP: IFT: Dividend Reinvestment Plan
25 Jun 2010 MONTHLY: IFT: Infratil Monthly Operational Update
22 Jun 2010 DRP: IFT: Dividend Reinvestment Plan Price Determined
21 Jun 2010 DIRECTOR: IFT: Director Resignation
14 Jun 2010 BUYBACK: IFT: Share Buyback
9 Jun 2010 MEETING: IFT: Special Meeting of Shareholders
4 Jun 2010 APPNDX7: IFT060: Appendix 7 - Interest Payment (IFT060)
4 Jun 2010 BUYBACK: IFT: Share Buyback
3 Jun 2010 DIRECTOR: IFT: Director Nominations
31 May 2010 ALLOT: IFT: Exercise of Warrants
27 May 2010 BUYBACK: IFT: Share Buyback
26 May 2010 RELINT: IFT: Director and Officer Disclosure - Tim Brown
26 May 2010 BUYBACK: IFT: Share Buyback
25 May 2010 RELINT: IFT: Ongoing Disclosure Notice (Duncan Saville)
24 May 2010 SSH: IFT: SSH Notice (Utilico Limited)
24 May 2010 RELINT: IFT: Ongoing Disclosure Notice (Duncan Saville)
24 May 2010 ALLOT: IFT: Exercise of Warrants
24 May 2010 RELINT: IFT: Disclosure of Directors and Officers - Kevin Baker
24 May 2010 RELINT: IFT: Director Disclosure - Lloyd Morrison
24 May 2010 BUYBACK: IFT: Share Buyback
21 May 2010 RELINT: IFT: Director Disclosure - David Newman
21 May 2010 RELINT: IFT: Ongoing disclosure (Kevin Baker)
19 May 2010 BUYBACK: IFT: Cancellation of Treasury Stock - amended
18 May 2010 ALLOT: IFT: Exercise of Warrants Amended
18 May 2010 ALLOT: IFT: Exercise of Warrants
18 May 2010 FLLYR: IFT: Infratil Results for the year ended 31 March 2010
17 May 2010 MEETING: IFT: Notice of Special Meeting
12 May 2010 BUYBACK: IFT: Cancellation of Treasury Stock
11 May 2010 WAV/RULE: IFT: IFT - Application for Waiver from NZSX Listing Rule 7.11.1
11 May 2010 DRP: IFT: Infratil Dividend Reinvestment Plan
11 May 2010 ALLOT: IFT: Exercise of Warrants
10 May 2010 ALLOT: IFT: Exercise of Warrants
7 May 2010 ALLOT: IFT: Exercise of Warrants
6 May 2010 APPNDX7: IFT110: Appendix 7 - Interest Payment (IFT110)
6 May 2010 APPNDX7: IFT090: Appendix 7 - Interest Payment (IFT090)
6 May 2010 APPNDX7: IFT070: Appendix 7 - Interest Payment (IFT070)
6 May 2010 APPNDX7: IFT040: Appendix 7 - Interest Payment (IFT040)
6 May 2010 APPNDX7: IFT140: Appendix 7 - Interest Payment (IFT140)
6 May 2010 APPNDX7: IFT130: Appendix 7 - Interest Payment (IFT130)
6 May 2010 APPNDX7: IFTHA: Appendix 7 - Interest Payment (IFTHA)
6 May 2010 ALLOT: IFT: Exercise of Warrants
4 May 2010 ALLOT: IFT: Exercise of Warrants
3 May 2010 ALLOT: IFT: Exercise of Warrants
3 May 2010 SSH: IFT: SSH (AMP Capital Investors (New Zealand) Limited)
29 Apr 2010 MONTHLY: IFT: Infratil Monthly Operational Update
29 Apr 2010 ALLOT: IFT: Exercise of Warrants
28 Apr 2010 DRP: IFT: Dividend Reinvestment Plan
23 Apr 2010 ALLOT: IFT: Exercise of Warrants
21 Apr 2010 ALLOT: IFT: Exercise of Warrants
21 Apr 2010 EXERCISE: IFT: Exercise of IFTWB Warrants
19 Apr 2010 ALLOT: IFT: Exercise of Warrants
19 Apr 2010 ALLOT: IFT: Exercise of Warrants
9 Apr 2010 RELINT: IFT: Ongoing Disclosure Notice (Anthony Muh)
7 Apr 2010 BUYBACK: IFT: Share Buyback
7 Apr 2010 BUYBACK: IFT: Share Buyback
6 Apr 2010 WAV/RULE: IFT: NZX Regulation- IFT - Waiver from NZSX Listing Rule 9.2.1
6 Apr 2010 BUYBACK: IFT: Share Buyback
6 Apr 2010 SSH: IFT: SSH (Blair Cooper)
6 Apr 2010 SSH: IFT: SSH (Accident Compensation Corporation)
6 Apr 2010 ASSET: IFT: Shell New Zealand Acquisition Completed
1 Apr 2010 ALLOT: IFT: Exercise of Warrants
1 Apr 2010 BUYBACK: IFT: Share Buyback
30 Mar 2010 SSH: IFT: SSH (Accident Compensation Corporation)
30 Mar 2010 SSH: IFT: SSH (AMP Capital Investors (New Zealand) Limited)
29 Mar 2010 ASSET: IFT: INFRATIL AGREES PURCHASE OF SHELL NZ ASSETS
26 Mar 2010 MONTHLY: IFT: Infratil Monthly Operational Update
24 Mar 2010 ALLOT: IFT: Exercise of Warrants
22 Mar 2010 BUYBACK: IFTHA: Perpetual Infratil Infrastructure Bonds (PIIBs)
11 Mar 2010 ALLOT: IFT: Exercise of Warrants
11 Mar 2010 ADDRESS: IFT: Infratil Investor Day
4 Mar 2010 ALLOT: IFT: Exercise of Warrants
1 Mar 2010 MONTHLY: IFT: Infratil Monthly Operational Update
1 Mar 2010 BUYBACK: IFTHA: Pertpetual Infratil Infrastructure Bonds (PIIBs)
1 Mar 2010 APPNDX7: IFT060: Appendix 7 - Interest Payment (IFT060)
10 Feb 2010 ALLOT: IFT: Exercise Of Warrants
1 Feb 2010 APPNDX7: IFTHA: Appendix 7 - Interest Payment (IFTHA)
1 Feb 2010 APPNDX7: IFT110: Appendix 7 - Interest Payment (IFT110)
1 Feb 2010 APPNDX7: IFT090: Appendix 7 - Interest Payment (IFT090)
1 Feb 2010 APPNDX7: IFT130: Appendix 7 - Interest Payment (IFT130)
1 Feb 2010 APPNDX7: IFT070: Appendix 7 - Interest Payment (IFT070)
1 Feb 2010 APPNDX7: IFT140: Appendix 7 - Interest Payment (IFT140)
1 Feb 2010 APPNDX7: IFT040: Appendix 7 - Interest Payment (IFT040)
1 Feb 2010 MONTHLY: IFT: Infratil Monthly Operational Report
11 Jan 2010 ASSET: IFT: Infratil announces sale of Energy Developments
 
Infratil Limited Ordinary Shares

Current quote:
IFT $1.68
Quotes delayed 20 minutes
Price when article published: $1.65

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