Greenko Share Discussion Threads

[hutch_pod] 28/5/2015 16:03

I hope the management are beavering away in the background sorting out the dilution issue.

[hutch_pod] 21/5/2015 14:17

Thanks. I am pleased the technicals seem to be turning.

[bikwik] 21/5/2015 13:57

Well, just in case you took a look at the trades today on this site, the buy and sell trades are very misleading. Currently we are on 10718 shares bought and 61436 sold. In fact the actual number is 36422 shares bought and 35732 sold, so pretty much the same.

Also, if you look at the "tails" on the two recent candlesticks these are both on the bottom which is indicating a reluctance by the market to stay down at those lower levels (i.e bullish). We are also very overstretched below the 30 and 50 day moving averages. Sure the overall trend is down, but there are strong technical clues that say that this stock is due a near term rebound.

[hutch_pod] 21/5/2015 12:51

Speaking as a 'stale bull', all I can offer is - I hope so!

[bikwik] 21/5/2015 11:57

free stock charts from uk.advfn.com

[bikwik] 21/5/2015 11:51

Very overstretched on the downside, all negatives now in the price, so am expecting this to start bouncing.

[hounddog10] 19/5/2015 07:14

Many thanks Marvelman. Now read it. GKO looks attractive at this price but the dilution is a bit worrying.

[marvelman] 18/5/2015 19:36

hounddog

Published online on 11th May. I signed up to IC on the back of it and although I am no longer invested, its a must read for current investors or potential ones.

[hounddog10] 17/5/2015 19:45

If anyone can tell me which copy of IC the Thompson article is in that would be greatly appreciated. I cant find it on the website or in hard copy (although may be website only). Thanks.

[hutch_pod] 14/5/2015 21:44

Cantor moved from hold to buy. Not seen their note.

[hutch_pod] 14/5/2015 11:28

Ah, thanks!

It sort of makes sense. If the Goverment of Singapore Investment Corporation (GIC) and Global Environmental Emerging Markets Fund (GEF) decide to work constructively with GKO and cap the dilution, the share price should recover, which might create a virtuous circle that benefits all shareholders including them.

Else they hold out for full rights and full dilution, and have to sell out into share price that falls even further, which I don't think leaves anyone in a pretty state.

[phowdo] 14/5/2015 10:23

You could keep an "eye or 3" on the other forums to see if someone has posted an excerpt...

[hutch_pod] 14/5/2015 10:16

Fair point! Will see if i can get one of these strange paper things

[cestnous] 13/5/2015 23:51

Yes, but it's complicated and long. You need to read it. Go on, buy a copy; you know you can afford it :¬)

[hutch_pod] 13/5/2015 17:21

Thanks cestnous - does he have an opinion on how/if they will solve the muddle?

[cestnous] 13/5/2015 16:57

Good article explaining the financial muddle and the consequences by Thompson online IC today. Don't rate him myself but this particular article is enlightening. Can't put it up here as last time I did that "someone" reported me to ADVFN. ( Don't hold atm.)

[cyfran101] 13/5/2015 12:41

Latest dip due to Australian Met Office warning re El Nino:



"india-based renewable groups Mytrah Energy (LON:MYT) and Greenko (LON:GKO) both fell sharply yesterday on the warning from the Aussie Met office, but Cantor Fitzgerald said the reaction was excessive.

Indeed, Cantor is more concerned abut a convertible debt overhang at Greenko, hence a ‘hold’ recommendation and 86p target, but Mytrah remains attractive and undervalued and it remains a buyer with a 130p target price"

[hutch_pod] 13/5/2015 09:51

Marvelman

Yes i think they will have to refinance at least a chunk of those bonds, even with cashflow picking up from the projects.

I'm still hoping management will come out with a clear statement around financing as without that, the business achievements are being soured. Presumably they've noticed the drop in share price!

Bazzer

I'm afraid I don't have a link.

HP

[ben gunn] 12/5/2015 13:20

The nose-dive in the Indian stock-market isn't helping either.

[martinc] 12/5/2015 11:45

And down another 8%!

[bazzer1000] 11/5/2015 11:56

HutchDo you have a link to the recent investec note?Cheers, B

[marvelman] 11/5/2015 10:51

Hutch

There is no doubt the 8% bond was a huge improvement on previous facilties. My concern though is that the $500 million bonds will need to be redeemed at some point (in 2019 I believe) and unless they are replaced (likely) by another issue they will not accrue enough cash with $50 million in interest payments currently coming out of their cash flow. I need to say that I sold recently at a loss of course but would dearly love to give myself a reason to reinvest as it is surely if nothing else a potential target at these levels. Great to have some discussion on this company.

[bones30] 11/5/2015 10:15

I was thinking its simply down to the drop in the price of oil. As this has knock on effects to other forms of energy too.

[hutch_pod] 11/5/2015 10:12

No problem. My understanding was helped considerably by the recent excellent Investec note which highlights the current bind of the previously advantageous equity financing.

On the 8%, I always thought this was a competitive rate to be secured by an Indian renewables company versus onshore debt, though take your point on current cashflow.

Appreciate your suspicion on the placing though after re-reading the press release, it was hard not to get excited about the solar foray. Seems to make a lot of business sense at least.

[marvelman] 09/5/2015 17:43

Informed post Hutch...thank you. They appear not to have much headroom, if any, for further additional investment for the solar facility they are eying. This drop in share price with relatively little volume appears to be engineered and I have been around to many years not to suspect a placing coming particularly in view of the statement above "I would not like to comment on funding aspect". I am not at all happy about the 8% coupon rate on the bonds which almost wipes out current cash flow although I am aware that projects are nearing completion to add to the cash generation.