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.
No comments yet
AIA June 2020 Monthly Traffic Update and July 2020 Preview
PCT - Delivering on strategy underpins strong operating result
KFL - August 2020 monthly update
BRM - August 2020 monthly update
MLN - August 2020 monthly update
Further COVID-19 Restrictions at SkyCity’s New Zealand Properties
FY20 results guidance met, Results date, Banking Facility
Sky sells OSB assets to NEP NZ, secures 10 year partnership
NZX fully operational - announcement re COVID-19
Heartland Market Update