Ocean Wilsons (holdings)... Share Discussion Threads

[eezymunny] 12/6/2023 07:37

Pretty muted reaction, considering the potential sum of the parts.

As you say flyfisher, could be $800m for the ports and $300m for the inv portfolio. That´s c. £800m vs £315m market cap at 890p. Something of a discount. Maybe come to nothing, but one I´ll just sit on until the world blows up and see what´s left :)

Similar goings on at CAM with lots of assets at home and overseas, dull agri business in for more than free, and board starting to shake things up. Might be your sort of thing, flyfisher?

[flyfisher] 12/6/2023 07:12

Some interesting posts in 2018, from post 1256 onwards.

A comment at that time was that Cantor had the port terminal assets only as being valued in the region of $800m.

[flyfisher] 12/6/2023 06:25

Interesting rns today.

Back in 2018 they ran a sales process seeking offers for the ports. Singapore’s PSA, China’s Hutchison Port Holding and China Merchant Port Holdings made non-binding proposals.

Current market value of OCN equity in PORT3 is $535m / £12.03 p/s, which is 46% above the market value of OCN including the investment portfolio.

[1c3479z] 12/6/2023 06:24

trying to sell their Brazilian interests - hope they succeed and achieve a good price, would just leave the defensively positioned investment portfolio.

[salvorhardin] 12/6/2023 06:23

An intriguing RNS was released this morning about Brazilian media speculation regarding the possible sale of the stake in Wilson, Sons.

"Response to media speculation

The Board notes recent Brazilian media speculation to the effect that the Company is negotiating the sale of its 57% owned subsidiary, Wilson Sons S.A. ("Wilson Sons").

The Company confirms that it is undertaking a strategic review involving the Company's investment in Wilson Sons. That review, which will consider all potential strategic options, is currently at an early stage and there can be no certainty as to its outcome.

The Company has not received any formal proposals from any third party with regard to a potential transaction involving Wilson Sons.

A subsequent announcement will be made as required."

[pugugly] 18/5/2023 07:08

Ex div today
Ocean Wilsons Holding Limited (the "Company"), announced on 24 March 2023 that the Board has proposed a cash dividend of US 70 cents per ordinary share, which will be paid on 15 June 2023.

The dividend timetable is as set out below:


Ex-dividend date: 18 May 2023
Record date: 19 May 2023
Payment date: 15 June 2023

[jane deer] 11/5/2023 09:41

Yes. Run for directors. There is a very easy route to increase the value of the shares, which unfortunately won’t be done. But there is a price for everything - that is why this share trades at a 50% discount to NAV.

[dozey3] 11/5/2023 09:11

“… As at market close on 31 March 2023, the trading value of the Ocean Wilsons' investment in Wilson Sons totalled approximately US$470.9 million, which represents US$13.31 (£10.79) per Ocean Wilsons share. The investment portfolio was valued at approximately US$298.1 million which represents US$8.43 (£6.83) per Ocean Wilsons share. In aggregate, including US$8.4 million of cash at the holding company level, results in an implied net asset value per Ocean Wilsons share of US$21.98 (£17.81).”

Why not split the two disparate halves of the company? His would create massive value for shareholders. But this is a company for directors not shareholders. IMO.

[ntv] 11/5/2023 07:15

looks like a pretty decent trading update
Happy to hold

[pugugly] 18/4/2023 07:11

Possible political risk now Luiz Inácio Lula da Silva fence sitting and cuddling up to Russia and China - USA will not like this change.

[ygor705] 17/4/2023 16:42

Volume has picked up quite nicely over the past few trading days which I regard as being positive.

[podgyted] 15/4/2023 16:40

FWIW

Currently calculate a 50% discount to the value of its Wilson Sons shares and its investment portfolio at 31/12/22.

On 18/5/23 it goes XD for a 6.2% dividend at current exchange rate to $.

Finally Wilson Sons seem to be on the way up operationally.

Seems a good one to hold and see what happens.

BWDIK

[piedro] 15/4/2023 10:34

FWIW ...
- updated the previous chart {#1475 of 147}

[essentialinvestor] 14/4/2023 14:29

Had a little nibble on the spread tightening and with the very fat XD next month.

SP movement here can to a tad idiosyncratic, so not sure on
the shorter term price. Medium term looks more interesting.

[ygor705] 13/4/2023 14:37

Just bought a few more of these for the two isas that I manage. Having top sliced my M&G positions I was looking for something to make up the income side of things. With Oceans going ex in May for a whole year's worth of income I couldn't resist it. With signs of US inflation having peaked, the Oceans portfolio might well pick up this year and the trading side of the business looks quite reasonable. Better bet than some of the dodgier looking financial shares.

[jane deer] 03/1/2023 13:27

I see the current discount at around 50% - so it has already narrowed a bit since October (when I calculated it at a 57% discount).

My hunch would be OCN could perform quite well into the dividend in Q2. I seem to have seen a few stocks perform ahead of significant dividends in the last few months - e.g SNWS. The good dividend yield is why I prefer OCN to Hansa.

[cousinit] 03/1/2023 11:30

I guess with something as illiquid as this it only takes a handful of people to decide over Xmas to buy in or top up to move the price (and then a few sellers to take advantage to maintain the status quo!)

[spooky] 03/1/2023 09:11

Any particular reason this is off and running? Apart from the long term historical discount to NAV of course.

[ygor705] 16/12/2022 13:53

Slow drift here is probably driven by negative performance of stock markets around the world. The trading side of the business looks to be doing reasonably well but since the change in the value in the cUS$350 million investment portfolio is washed through the p &l each year the eps gets depressed every time the markets goes down. Cash flow largely unaffected so dividend looks resonantly secure. One to look at if the markets suddenly turn!

[piedro] 21/11/2022 15:53

WOW!
That is quite some non-note - not worth the look IMO

[flyfisher] 21/11/2022 11:51

Edison note out today.

[hosede] 03/11/2022 17:14

Even so! With a big world recession on the way, I suspect I'll be able to get back in around the 600 mark

[dozey3] 03/11/2022 12:23

With this spread in and out is costly. Ltbh imo.