couple of decent director buys reported |
 I took quite a careful look at this one (485page prospectus!!) and decided the risks outweigh the benefits.
What's going on here? I suspect the listing has been structured to allow the Bollore family to increase control on the cheap. Its important to be aware that normal UK takeover Regs don't apply to this company. So, large holdings could be built up without triggering the normal requirement for a bid.
Timing the spin-off of a French company onto the UK market right before christmas. What would you expect to happen? The share price will fall of course, as many french fund managers won't have UK shares in their mandate, and selling into a traditionally quiet period will exaggerate the moves. Equally, structuring the new listing to fall outside the large indices, will reduce the institutional buying demand in the UK.
Add in the aforementioned takeover of Multichoice in Africa, and I think there's too much risk.
One shareholder could take effective control and use this as their personal fiefdom to the detriment of smaller investors in my opinion. |
They make some great content. Bureau des legendes was fantastic.I'm not sure it should have been permitted to float. They are acquiring a South African business using a eur1900m bridging loan. How are they are going to refinance that? If they don't repay the bridging loan the interest rate will ramp up like crazy but details of rates are undisclosed. The shareholders who agreed this acquisition are now trying to escape from the equity (they still have debt) even before the acquisition completes - it is not a great vote of confidence.In Africa, Netflix will be able to outcompete them before that segment becomes profitable.The Europe business is outdated, barely profitable, post growth and that industry is reliant on French government. subsidies. They are not going to provide enough subsidies to make foreign shareholders rich!When the debt becomes distressed Netflix will acquire it for the Africa assets and close down/sell off/gift to the French government most of the rest.The low market cap is tempting but you could get get stung with a deeply discounted rights issue later or some other dilutive corporate action. Too risky for me. |
interactive investor telling me these can't be held in an ISA. HL telling me they can. |
FMI:
As of 31 December 2023, the Group totalled approximately 26.8 million subscribers
worldwide, compared to 11 million as of 31 December 2014, illustrating its significant
growth over the last decade, despite intensified competition from streaming platforms and other new market entrants, whilst sustaining profitability. In 2023, the Group also achieved a global audience of over 400 million monthly active users on its OTT and video streaming platforms. Financially, the Group has a resilient, profitable and cash generative business model. For the year ended 31 December 2023, the Group recorded €6.2 billion in revenue, €426 million in Operating Income (EBIT) and €472 million in adjusted earnings before interest and income taxes (Adjusted EBIT (EBITA)), up from €5.9 billion in revenue, €355 million in Operating Income (EBIT) and €401 million in Adjusted EBIT (EBITA) for the year ended 31 December 2021. In addition, for the year ended 31 December 2023, the Group recorded €500 million in net cash provided by operating activities and €315 million in cash flow from operations (CFFO). |
from another boardFrom shares magazine(AJBell)'It is common for demerged stocks to experience share price wobbles in the first few days as a standalone listed company, as investors who inherited the stock decide if they want to stay or go,' added Mould.'It can take a few weeks or months before the shareholder register shifts to individuals who want to hang around longer term.'A portion of the shares are held by French financial institutions who are not able to invest in UK-listed companies.In November this year, analysts at US investment bank JPMorgan valued Canal+ at around £5 billion or more than double its current market valuation. |
all after hrs reported trade |
Will be interesting to see what holding statements come out |
Couldn't resist. Decent amount of |
She is a wild one |
Agreed, admittedly I’ve gone a bit early but still got some amo- only a short term valuation issue but not worried about short term timing as great trade over time |
I'm waiting to see where the chart bottoms but agree I'm in when settled down just need to see a base |
Technical selling here, I think great value and superb tuck away for the patient, can see it doubling from here in the next year |
The listing in the UK for this share has not been good. It has been dropping from day one. |
What price to place an order ? How low could it go ? |
Yesterday's reversal was impressive. clearly stock being shifted, looking for some stability before dipping toe |
I'm in for the bounce |
Not a well managed listing. Can't even find data on Price Earnings, forward guidance, NAV ps.Anyone got a view on this? What website do you use? |
208p - the bottom?
Yours truly,
Bottom Picker |
prospectus does not commit to paying dividend, or indeed anything. |
Does this pay a dividend out of interest ? Thanks in advance |
Looks like it’s down on the tradegatexchange as well. |
"Cahnul plooooooooos"
That is all that stuck when coming across it - hear that for the rest of the day.
But what a reaction!
So erm....
Don't list in the UK?
Does look technically oversold. This is very lumpy - really sharp moves.
Where is the bottom...
Bottom picking again...
Risky stuff...
Stop picking bottoms!
Had a go just over 208p
Stop at under 206p
Just one go
Can it bounce?
All imo
DYOR |
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