3i Infrastructure Share Discussion Threads

[cyfran101] 13/5/2016 21:58

Questor has maintained his hold today.

[jonwig] 12/5/2016 07:53

Simpler maybe to sell 7/26 of your holding at (165+3.625), ie. 169p to take up your allocation. Hardly worth the bother. (Bid is 170p at present.)

[davr0s] 12/5/2016 07:02

Have I got my calcs wrong looking at the open! Down 4%

[davr0s] 12/5/2016 07:00

Getting wise to these rises now into fund raises. Offer looks ok - I reckon par opening is 176.8p based on all this. I'll try and get more than my allotment if possibleCalculated by ((165*7)+(179-3.625)*26)/33+3.625 in today's money - anyone care to double check!

[jonwig] 12/5/2016 06:45

Mach100 - if you're still here and interested, there might be chance to pick some shares up at 165p under the Intermediaries Offer, if your broker is participating.

[jonwig] 12/5/2016 06:42

The fundraising came as a surprise - maybe it shouldn't have done, given their recent acquisitions - and is probably worth taking up.

From what I can see, the calendar suggests you might be able to sell some in the market and then pick them up under the offer at 165p. Except that you'll miss out on the upcoming dividend; so you'd have to sell them above about 169p. I doubt that will be feasible this morning and anyway, not worth the bother.

I think the actual results were signalled in the recent trading statement, but I'm pleased the India fund is no longer an embarrassment!

[18bt] 12/5/2016 06:25

Dav - perfect timing! Looks slightly opportunistic fund-raising to take advantage of strong share price Nevertheless, strong results and can't grumble at 14% pa return. May look to top up.

[davr0s] 11/5/2016 18:13

Top sliced for second time today as looks like it has topped short term. Still hold a decent slug of these - will let these ride and will add slice back on as/when any weakness returns

[mach100] 29/4/2016 23:34

Jonwig, I really appreciate the honest advice. It chimes very well with my own thoughts on this. I will put on my watchlist for weakness as I dont doubt it is a solid share overall but perhaps toppy at this level.

[davr0s] 29/4/2016 05:45

Many thanks

[jonwig] 29/4/2016 05:32

12 May according to the website:

[davr0s] 28/4/2016 18:14

Do you know the date for full results? Thanks

[jonwig] 28/4/2016 06:38

Mach - I actually think the share price is getting a bit ahead of things here: NAV at 30 Sept was 153.8p so the premium is 17%, probably the highest in its sector. On the other hand, this is a high quality company and there's scope for a possible NAV uplift when (if) the reorganisation of Elenia goes ahead.

So personally I wouldn't be a buyer as I like to get stuff cheap, but also I wouldn't dream of selling. Worth waiting for the full year results in about a fortnight?

[davr0s] 27/4/2016 07:40

Ok thanks - I have had one or two shares rise like this prior to fund raising only to see it all lost and more. Looks like lower risk of that happening here then

[jonwig] 27/4/2016 07:38

Dav - they have net cash (£50m) - always had, as they were too cautious to invest fully from the very start. In fact, far from raising equity they've used compulsory redemption.

Related funds HICL and JLIF are also at or near to all-time highs. I say "related" but 3IN have a different mix of projects and have had some real winners. The only bit os a drag was the India fund.

[davr0s] 27/4/2016 07:31

Breaking out to ATHs - nice and glacial with it. Can't see much history of this but do they have any form in raising money via equity placings?

[stevie blunder] 15/1/2016 09:07

The EUR 2.5BN may be an Enterprise Value number. They have a lot of debt and bonds outstanding.

[jonwig] 10/8/2015 06:09

Thanks. Might be same article reproduced here:

[cyfran101] 09/8/2015 21:43

Sunday Times now indicates 3in are teaming up with Morgan Stanley and Deutsche Bank for Moto Hospitalities 56 motorway service stations at circa £1bn.

Reportedly a "strong contender"


Moto have 56 sites, Welcome Break circa 24 and Roadchef 20. Thereafter operators only have one or two sites so the top three have a stranglehold on Motorway services but if Bridgwater is the norm rather than a poor exception Moto is going to need some serious investment. Although if the consortium provides the loans they won't pay tax for some time.

Brief about current motorway opportunities:

[jonwig] 04/8/2015 06:02

I've reinvested the special dividend to preserve dividend level. I imagine that was a popular trade.

[jonwig] 06/7/2015 07:59

Just for the record:

9:10 consolidation and ex-roc ........ 07 July
payment of 17p/sh (old no. of shs) ... 31 July.