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CORD Cordiant Digital Infrastructure Limited

-1.80 (-2.44%)
Last Updated: 09:37:32
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Cordiant Digital Infrastructure Limited LSE:CORD London Ordinary Share GG00BMC7TM77 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  -1.80 -2.44% 72.00 1,041,490 09:37:32
Bid Price Offer Price High Price Low Price Open Price
72.00 73.80 73.20 72.00 73.20
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 103.38M 81.18M 0.1053 6.84 555.13M
Last Trade Time Trade Type Trade Size Trade Price Currency
14:31:46 O 7,500 72.4974 GBX

Cordiant Digital Infrast... (CORD) Latest News

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Date Time Title Posts
04/12/202310:05Cordiant Digital Infrastructure Ltd81

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Cordiant Digital Infrast... (CORD) Most Recent Trades

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Posted at 07/12/2023 08:20 by Cordiant Digital Infrast... Daily Update
Cordiant Digital Infrastructure Limited is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker CORD. The last closing price for Cordiant Digital Infrast... was 73.80p.
Cordiant Digital Infrast... currently has 771,009,707 shares in issue. The market capitalisation of Cordiant Digital Infrast... is £555,126,989.
Cordiant Digital Infrast... has a price to earnings ratio (PE ratio) of 6.84.
This morning CORD shares opened at 73.20p
Posted at 30/11/2023 08:54 by cc2014

Imho price got dragged down by the terrible goings on at DGI9 in same sector.

Market now understands that none of the issues at CORD are applicable to CORD and share price is recovering.
Posted at 30/11/2023 08:15 by lord gnome
CORD is by no means alone in its valuation issue. The same can be said for almost every REIT or infrastructure trust that I own and most of my company shares as well. It’s the state of the market and not the state of the company. Valuations in some oil and gas companies are ludicrously low.
CORD is doing just fine. I will be investing more shortly when I top up my grandchildren’s ISAs.
Posted at 29/11/2023 16:21 by boadicea
There is a gaping chasm between the company's statement of its NAV and the market valuation. CORD is not alone in this. However it implies that (1) the market believes the assets are significantly overstated, or (2) the liabilities are grossly understated or (3) there is a gigantic risk adjustment to apply to one or both of these factors.
Can someone who has studied the company in some depth venture an opinion as to which side of the balance sheet the discrepancy is primarily attributable?
Posted at 29/11/2023 14:38 by jonwig
Yes - they inspire confidence. And more than once draw attention to their own shareholdings vs. the share price.

Hudson, though, is given a cursory mention: hopes of turnaround, etc. and bought cheaply. But we won't get much insight until they do turn it around.
Posted at 29/11/2023 09:18 by cc2014
Thanks for the link. I had not spotted this and will join the presentation.

What I like about this IT is not only the actual performance of the Trust but the way the results are presented. It's like they are just presenting it as it is and not trying to hide stuff with fancy language. I find the explanation of the DCF model used to calculate the NAV extremely helpful

9% target return on a price of 72p gives a return of 12.5%. Not bad at all especially as I trust them to under-promise and over-deliver.

(and especially since I've got a decent quantity at an average price of 61.9 including all costs)
Posted at 01/11/2023 07:07 by jonwig
Cordiant Digital Infrastructure Limited (the "Company"), the operationally focused specialist digital infrastructure investor, is pleased to confirm that Steven Marshall, Chairman and Co-Founder of Cordiant Digital Infrastructure, purchased on Friday 27 October 2023 a total of 1,127,957 ordinary shares in the capital of the Company at a price of 61.0 pence per ordinary share.

Following this purchase, Mr Marshall owns a total of 6,927,957 ordinary shares. The number of ordinary shares held by the Directors of the Company and the Investment Manager (either directly or by its staff) now represents 1.20% of the entire issued share capital of the Company.
Posted at 30/10/2023 07:47 by dickiehh
I agree with this but if the share price is at a near discount to the NAV, they just have some VERY good opportunities for other investments to prefer these to buy backs. Could also be they are waiting for current market to improve and/or realise some cashflows for new buybacks
Posted at 02/10/2023 06:08 by jonwig
Steven Marshall, Chairman and Co-Founder of Cordiant Digital Infrastructure, has purchased a total of 500,000 ordinary shares in the capital of the Company at a price of 71.9 pence.

Following this purchase, Mr Marshall owns a total of 5,800,000 ordinary shares.

CORD has probably been linked historically with DGI9 as "digital infrastructure". And been unfairly dragged down by the latter's poor execution.
Posted at 20/9/2023 06:12 by jonwig
Cordiant Digital Infrastructure Limited (the "Company"), the operationally focused specialist digital infrastructure investor, is pleased to confirm that Steven Marshall, Chairman and Co-Founder of Cordiant Digital Infrastructure, has purchased a total of 1,000,000 ordinary shares in the capital of the Company at a weighted average price of 71.4 pence (at a high of 72.4 pence and a low of 70.4 pence).

Following these purchases, Mr Marshall owns a total of 5,300,000 ordinary shares.

Clearly the market is providing an opportunity!
Posted at 24/8/2023 09:38 by speedsgh
Acquisition of Speed Fibre Group -

Cordiant Digital Infrastructure Limited (the "Company" or "CORD"), an operationally focused specialist digital infrastructure investor, is pleased to announce that it has entered into an agreement to acquire the entire issued share capital of Speed Fibre DAC ("Speed Fibre"), Ireland's leading open access fibre infrastructure provider (the "Transaction"). Speed Fibre is being acquired from the Irish Infrastructure Fund for a total enterprise value of €190.5 million. The equity consideration of €97 million will be funded by €68 million in cash and €29 million through a vendor loan note with an initial interest rate of 6% and a maturity of four years.

On closing, Speed Fibre will be the fourth digital infrastructure platform acquired by the Company since its launch in 2021 and is consistent with its investment programme of buying strategic, cash flow generating platforms under its "Buy, Build & Grow" model. The acquisition further diversifies CORD's portfolio on a sub-sector and geographic basis. The Transaction is subject to customary regulatory approvals in Ireland and the United Kingdom and is expected to close later this year.

Speed Fibre operates 5,400 kilometres of owned and leased fibre and wireless backhaul across Ireland, on which it provides dark fibre, wavelength and ethernet services to a mix of carriers, internet service providers, corporate customers, and the government. The business is also well-positioned to serve Ireland's growing data centre sector, which is expected to be the fastest growing hyperscale data centre market in Western Europe over the next six years. While primarily a backbone provider, Speed Fibre's subsidiary, Magnet Plus, provides connection and service to approximately 10,000 business and retail customers in Ireland.

With a stable business model, sales growth and high revenue and cash flow visibility, Speed Fibre generated revenues of c. €80 million and EBITDA of c. €23 million in 2022. Outstanding gross debt of c. €111 million as at December 2022 and which matures in 2029 is provided by three bank lenders, all of whom have committed to continue to support Speed Fibre under the Company's ownership. Gross debt was balanced by c. €19 million of cash on hand at year end 2022.

Speed Fibre has a strong ESG and sustainability focus, earning a 5-star rating from GRESB, an independent organisation providing validated ESG performance data, and is targeting net zero carbon emissions by 2040.

Shonaid Jemmett-Page, Chairman of Cordiant Digital Infrastructure Limited, said:
"As a fourth significant investment, Speed Fibre represents a further strategic milestone for the Company. Speed Fibre operates in a new market for CORD where data consumption growth is expected to be among the highest in Europe. This provides additional portfolio cash flow supported by high visibility revenues from wholesale contracts with global blue-chip customers and offers the potential to generate long-term value and attractive returns to shareholders."

Steven Marshall, Chairman of Digital Infrastructure at Cordiant Capital, added:
"We are delighted to add another pillar to the Company's portfolio. Speed Fibre is uniquely positioned as the leading independent national fibre and wireless backhaul operator and is poised to play an expanding role in Ireland's digital economy. We expect to drive organic growth from existing customer traffic on its current network plus invest growth capex in new strategic fibre projects around Ireland and beyond."

Benn Mikula, Co-CEO and Managing Partner at Cordiant Capital, added:
"Speed Fibre is a further step in the growth and diversification of the Company's portfolio. We are deploying capital into a key market in Western Europe's evolving data economy. Moreover, Speed Fibre's position as an important wholesale fibre and backhaul platform offers growth potential and complementarity with other digital infrastructure assets. The Transaction reinforces our 'Buy, Build & Grow' strategy."
Cordiant Digital Infrast... share price data is direct from the London Stock Exchange

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