Greencoat Uk Wind Share Discussion Threads

[stewart64] 30/5/2019 10:06

Gateside I too like Trig, but it's gone from a nadir of 115p at the time it too was knocked back by its own ipo (March) climbing over ten points; Greencoat has shed ten points in the opposite direction. I don't think the overall perception of the stocks has changed that much; one has escaped the trauma of ipo, Greencoat is deep in it and possibly at a low point.

[stewart64] 30/5/2019 09:12

375m raised on sub ipo, debt will be down to 23% gav once another wind farm added.

No reference to oversubscription and they are intending to raise up to 0.7 billion this year in up to three tranches I gather so one would have thought they would take all the money?

hxxp://www.greencoat-ukwind.com/news/2019/300519-resultsofraise

[gateside] 29/5/2019 18:43

Much prefer TRIG as it has diversification in both energy types and locations.

[stewart64] 29/5/2019 18:24

Price looking very misaligned with Trig now. Traditionally carried a much higher premium than Trig, but with the sub ipo this is at a 9% premium to nav and Trig a toppy 11% ( indeed don't think Trig has ever commanded a higher premium than UKW). Not really taking into account the slightly more
focused portfolio of UKW imo. though one could argue Trig is more diversified.
I'm hopeful for a decent allocation on the sub ipo of at least 2/3 since UKW can always roll oversubscription into ipos it intended later.

[igoe104] 21/5/2019 07:32

Just purchased a load this morning, over 21k worth.
this looks like a good long term holding for my portfolio.

[stewart64] 16/5/2019 10:45

Likely to be some scaling back imo ( possibly 2/3 at a guess allocation ), if there isn't then the sub ipo would be an unlikely failure. 23rd closing date.

[alexisk] 15/5/2019 18:52

Anyone here know whether applications to buy new shares by existing small shareholders -- like myself -- are likely to be scaled down (marginally or heavily) if this Initial placing and offer is oversubscribed? I had a quick look at the prospectus and couldn't see anything about what happens in the case of oversubscription.

[stewart64] 03/5/2019 08:55

Unlike Trig they usually do not reserve for existing shareholders. Across at Trig they gave existing shareholders a guaranteed one ninth of holding thereby offsetting the share price fall. Much fairer.

[jimmywilson612] 02/5/2019 10:32

Thanks mate. Haven't got involved with these in the past but I'd be interested in putting the money in.

I'm with HL so will keep an eye for it on there.

[a0002577] 02/5/2019 10:29

JimmyWilson612, This is from the RNS

"- Under the Share Issuance Programme, subject to approval by Shareholders, UKW will issue new ordinary shares by way of the Initial Placing and Initial Offer for Subscription at an issue price of 133 per share

o The issue price of 133p represents a discount of 5.2% to the closing share price on 1 May 2019 and a premium of 9.5% to the last reported NAV of 121.47p (as at 31 March 2019) (both adjusted for the payment of the 1.735p dividend on 24 May 2019)"

The Initial Offer usually means that firms like YouInvest will offer it under their New Issues part of the web site.

[jimmywilson612] 02/5/2019 08:27

I assume average Joe won't be able to take part in this?

[togglebrush] 02/5/2019 06:44

RNS Advert for Initial Share Offering

[stewart64] 03/3/2019 10:06

Topvest...TRIG and UKW my two holdings in renewables too. You can knock them but over the last two years they have both risen well above the sector average on top of the 6 and 5 % yield respectively. This against the backdrop of an FTSE total return index which has made zero since October 2017. Most sites going with the 7.2 p/e ( eps 18.54) now having updated the annuals. Obviously courtesy of the 5 year life extension of the turbines on the balance sheet, so a bit misleading.

[stewart64] 02/3/2019 20:14

Re. the price action from 137p to 127p back to 137p on Wednesday morning, the day before annuals; what was that all about? I presume a technical blip but has been left on the chart history.

[topvest] 02/3/2019 18:18

UKW and TRIG are the best renewables plays in the market in my view.

[stewart64] 16/2/2019 09:51

Sometimes the spread is a lot tighter than the ticker suggests. Yesterday the official spread on Trig was 117.4/117.6....yet the purchase went through at 117.45, a mere .05 pence above the bid and the next move was up not down.

[gateside] 15/2/2019 19:53

Yes TRIG and UKW are the only two that are in the FTSE250. As a consequence, they also have a much tighter spread between the buy and sell price.

[a0002577] 15/2/2019 18:16

Am I right in saying that UKW and TRIG are constituents of the FT-250 (unlike JLEN and BSIF for example)? If true, does this go someway to explaining why they trade at a premium to the other green infrastructure funds?

[stewart64] 15/2/2019 15:53

Well has returned to an all time high once you consider the XD, so timed that right thus far. Bought in on Trig on the dividend dip earlier today at 117.45.

[cflather2000] 07/2/2019 20:35

Share issuances are quite ordinary in this kind of trust though, as most cash is paid out. Nothing builds up for acquisitions

[stewart64] 05/2/2019 19:11

Did top up yesterday at 130.0, since fallen even more to a bid of 129.4 in spite of the stock market rally. Backed the wrong horse as Trig ( which I also own) has continued to soar.

Trig has massively ourperformed Greencoat recently. Suggests to me Greencoat is oversold. But if the management will keep springing these share issuances.

[stewart64] 01/2/2019 20:23

Tempted to top up Monday if the share price stays under 130...nav premium at a recent low of 6%, fwd p/e at 10.8. This issuance is small compared to the 2017 one, the Market may have over- reacted.