Wednesday 23rd May 2012 |
Text too small? |
Royal Wolf Holdings, the ASX-listed container services firm that won an award for its initial public offering last year, has agreed to buy the container business of Auckland-based ContainerTech Group.
No price was disclosed for the transaction in Royal Wolf's statement to the ASX. ContainerTech has a fleet of about 500 hire containers and the acquisition will lift Royal Wolf's earnings immediately, it said.
Shares of Royal Wolf last traded on the ASX at A$2.11. The shares were issued at A$1.83 and began trading in May last year.
Its A$91 million share sale won an IPO of the Year award from FinanceAsia, selling at 14.1 times 2011 earnings, compared to a sector average of 11.4 times, according to the company's website.
BusinessDesk.co.nz
No comments yet
EBOS announces appointment of new Chief Financial Officer
AM Best affirms Tower Limited's A- (Excellent) FSR
MCK enters into conditional agreement for Whangarei land
April 26th Morning Report
SPG - Change to Executive Team
BGI - Forgiveness of $200,000 of secured indebtedness
General Capital Subsidiary General Finance Market Update
AFT,Massey Ventures,Gilles McIndoe to develop scar treatmen
April 24th Morning Report
Cheers to many fewer grape harvest spills