IBA Health have had a barrage of announcements in the past few weeks...they are better rampers than Chicken...but the market isn't buying into any of it...share price very stagnent around 50c. Which is what I got back in at after selling earlier in the year for 75c.
They started a dividend policy this year and if the recent announcements hold weight, should grow earnings significantly over the next few years.
Anybody else think this stock is significantly undervalued?
Basilisk
30th-August-2006, 01:16 PM
You keep these Fleeta? They're doing well - up over 6% to .95 so far today.
billhill
27th-October-2006, 05:03 PM
Hi guys.
Been doing a heap of research on this stock but not able to find much information regarding the indian and chinese markets it is trying to establish itself in. Can anyone tell me the level of compitition they face here and the kind of growth prospects for healthcare in these markets in general.
billhill
9th-November-2006, 08:26 PM
This stock is up over 10% today. Is anyone else watching this stock. Just announced a joint venture in china to supply internet services to 180 hospitals and are setting up a chinese health television channel. Good platform for further growth. what do others think.
Duckman#72
9th-November-2006, 10:57 PM
Hi Billhill
Yes - noticed the announcement today. I read a positive report in The Australian about two weeks ago about these guys. About the same time as your previous post. I put them on my watchlist - but no further.
Regards
Duckman
redandgreen
10th-November-2006, 12:40 PM
Hi Billhill
Yes - noticed the announcement today. I read a positive report in The Australian about two weeks ago about these guys. About the same time as your previous post. I put them on my watchlist - but no further.
Regards
Duckman
when you look around the market atm, apart from the highly speculative end, I think IBA offers outstanding potential as a good long term investment.
I have done very well out of them in the last 12 months.
I will buy more on the dips
LifeisShort
20th-November-2006, 07:15 PM
I've been following this stock for some time. Great turnaround story with plenty of upside still left. The next 12 months could put this company on a road to success.
I've owned the stock since $.40c and I'm holding on for dear life.
Porper
3rd-January-2007, 03:57 PM
I've been following this stock for some time. Great turnaround story with plenty of upside still left. The next 12 months could put this company on a road to success.
I've owned the stock since $.40c and I'm holding on for dear life.
IBA seem to go unnoticed here but had a nice breakout a couple of days ago but volume was low.
Better volume today and if the wave count is correct, a target of around $1.55.
I have these a while as a medium term investment but I am tempted to trade this next potential leg up.
Please note that I am wrong 50% of the time. :)
LifeisShort
3rd-January-2007, 07:56 PM
I think the uptrend will continue due to the company being a good growth story stock. This year should be better than last.
LifeisShort
9th-January-2007, 10:55 AM
A breakout today from the 1.28 levels to over 1.30. Anyone has any ideas why it has jumped today. Is there a research report out?
deftfear
9th-January-2007, 11:06 AM
Not sure about a research report, but there appears to be a lot of small trades ie 100-400 shares being sold, I'm not sure of the significance of this, but I think someone has written about it on another thread somewhere.
LifeisShort
9th-January-2007, 11:48 AM
Well its hit 1.37 which is a big jump of almost 10 cents. There must be a write up of it somewhere.
Peakey
10th-January-2007, 11:33 AM
IBA moving along nicely, has today broken out from a micro pattern.....
See weekly chart showing support/resistance.
LifeisShort
10th-January-2007, 01:53 PM
There must be some article or research note out somewhere on IBA thats come out recently and pushed the price up. Anyone???
billhill
10th-January-2007, 03:08 PM
No article that i know of. I expect that their is likely to be a positive anouncement released soon that is causing the price to rise. I noticed that yesterday two senior directors bought up more shares in the company. Possible insider buying IMO.
LifeisShort
10th-January-2007, 03:18 PM
Well its racing ahead of something. Hit a high of 1.43. This stock is in a great position because its in IT and Healthcare......can't get a better combination of industries IMO. IT seems to be picking up again and healthcare is always good hence high valuations are present. I've been following IBA since they dropped to 38c and have been strong supporter ever since
billhill
10th-January-2007, 03:42 PM
Yeah must admit this one may turn out to be a gem. Especially if they can consolidate their position in china.
LifeisShort
22nd-January-2007, 02:10 PM
This stock never ceases to amaze me. Smart Investor had it in its top 20 stocks for 2007 (I can't remember which analyst mentioned it). All I can say is come on baby
Sanhedrin
23rd-January-2007, 08:29 PM
I have been on this since it was just over $1 the fundamentals appear to be.
Quite sound and the company is growing, if the China deal takes off who knows, could turn out to be a rippa.
In a big way.
Very Happy Investor.Ha Ha
Porper
7th-February-2007, 07:26 PM
IBA seem to go unnoticed here but had a nice breakout a couple of days ago but volume was low.
Better volume today and if the wave count is correct, a target of around $1.55.
I have these a while as a medium term investment but I am tempted to trade this next potential leg up.
Please note that I am wrong 50% of the time. :)
Still not popular with ASF members but IBA has performed brilliantly in the past few months.
Having a fairly major...ish retracement at the moment.
I find the daily chart difficult to label, but it seems that wave 5 has completed and we are in wave A of an A, B, C correction which could take us down to around $1.18 in theory but in this market maybe we won't get that far.
I think it is a great stock to trade using Elliot wave an Fib and when .............if we get a decent retracement there could be another potential great trade coming up.
Any positive criticism , thoughts welcome.
LifeisShort
7th-February-2007, 07:38 PM
Still not popular with ASF members but IBA has performed brilliantly in the past few months.
Having a fairly major...ish retracement at the moment.
I find the daily chart difficult to label, but it seems that wave 5 has completed and we are in wave A of an A, B, C correction which could take us down to around $1.18 in theory but in this market maybe we won't get that far.
I think it is a great stock to trade using Elliot wave an Fib and when .............if we get a decent retracement there could be another potential great trade coming up.
Any positive criticism , thoughts welcome.
Agree although I don't think it will go below 1.28...the last major support/resistance level. I think at these levels or anything below is a good accumulate levels IMO.
mpv
14th-February-2007, 03:08 PM
with the China deal announced yesterday, Iba has hit new high of 1.615 today currently trading around the 1.60 mark.
LifeisShort
14th-February-2007, 08:08 PM
with the China deal announced yesterday, Iba has hit new high of 1.615 today currently trading around the 1.60 mark.
Its a good growth stock, not much more to say except keep going son!!!
bigdog
16th-February-2007, 10:36 AM
SP has been spectacular this week, however following the ASX ann below today the SP has dropped 10.5 cents this morning
IBA $1.52 -$0.105 -6.46% 1,750,866 $2,711,406 16-Feb 10:33:42
ASX ann today
Statement regarding recent press speculation
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00693765
Sydney – 16 February 2007 - Following recent press speculation, IBA Health Limited (ASX- IBA) confirms that it is in discussions with iSOFT Group plc (the "Company"), which may or may not lead to an all-share recommended offer for the Company being made by IBA Health. IBA Health also confirms that it is in discussions with certain financial institutions to obtain the funding which would be required should an offer for the Company be made by IBA Health. This funding would refinance the Company’s existing debt facilities
and provide adequate working capital for the ongoing requirements of the enlarged group.
LifeisShort
16th-February-2007, 12:52 PM
SP has been spectacular this week, however following the ASX ann below today the SP has dropped 10.5 cents this morning
IBA $1.52 -$0.105 -6.46% 1,750,866 $2,711,406 16-Feb 10:33:42
ASX ann today
Statement regarding recent press speculation
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00693765
Sydney – 16 February 2007 - Following recent press speculation, IBA Health Limited (ASX- IBA) confirms that it is in discussions with iSOFT Group plc (the "Company"), which may or may not lead to an all-share recommended offer for the Company being made by IBA Health. IBA Health also confirms that it is in discussions with certain financial institutions to obtain the funding which would be required should an offer for the Company be made by IBA Health. This funding would refinance the Company’s existing debt facilities
and provide adequate working capital for the ongoing requirements of the enlarged group.
I see this as a positive if the deal comes off due to the new markets IBA will enter. In the meantime however there will be pressure on the SP as there is talk of raising funds and isoft is having troubles at the moment so IBA will need to use its expertise to turn the business around.
bigdog
9th-May-2007, 10:01 AM
Todays SMH and IBA shares are suspended until next Monday
LONDON: Australian IT group IBA Healthcare is reportedly expected to launch a £132.3 million ($317.9 million) all-share bid for embattled National Health Service software services company iSoft.
Shareholders of iSoft would be offered 1.1 new IBA shares for each iSoft share, valuing the British company at $1.38 a share, The Times newspaper has reported.
Shares in iSoft closed at 48p on Friday before Monday's UK bank holiday.
IBA shares were frozen to enable the group to hold meetings with institutional investors with a view to raising $200 million of new equity to help fund the acquisition of iSoft.
The new equity is expected to be raised through an institutional placement and a rights issue to existing shareholders.
That funding is supported by $315 million in new debt facilities underwritten by ABN Amro, which has been secured subject to the completion of IBA's equity raising.
bigdog
16th-May-2007, 10:48 AM
ASX announcements today
SP today down 4.5 cents after ANN
Code Last Move % Move Buyers Sellers Open --High --Low --Volume ---Value -----Last Traded
IBA $1.21 -$0.045 -3.59 $1.205 $1.21 $1.225 $1.225 $1.165 5,249,828 6,319,628 16-May 10:42:14
IBA 9:40 AM Recommended Offer to acquire iSOFT for $333m/Capital Raising
http://asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00721417
IBA announces A$333 million recommended offer for iSOFT creating
one of the world's largest eHealth companies
16 May 2007 – IBA Health Limited (ASX: IBA) (“IBA”), Australia's largest listed eHealth company, today announced that IBA and the board of iSOFT Group plc (LSE: IOT) (“iSOFT”) have reached agreement on the terms of a recommended all-share offer under which IBA will acquire the entire ordinary share capital of iSOFT, creating one of the world's largest healthcare information systems providers.
Under the terms of the offer, to be effected by a scheme of arrangement, iSOFT shareholders will be entitled to receive 1.1 new IBA shares for each iSOFT share, valuing each iSOFT share at A$1.38 (58.1 pence) and iSOFT’s equity capital at approximately A$333 million (£140 million).
IBA also announced today that:
�� it has successfully launched and allocated a A$54.5 million conditional placement of 51.9 million IBA shares at an issue price of A$1.05, which was over-subscribed by a range of international and domestic institutions;
�� a A$145.4 million renounceable rights issue offering IBA shareholders 2 new IBA shares at a price of A$1.05 per share for every 5 shares they own at 24 May 2007 has been fully underwritten by ABN AMRO Rothschild; and
�� ABN AMRO has agreed to provide to IBA new debt facilities of £130 million (A$309 million), subject to satisfying a number of conditions.
IBA 10:19 AM Prospectus - Renounceable Rights Issue
http://asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00721452
IBA 10:50 AM Roadshow Investor Presentation
http://asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00721473
tdkx669
16th-May-2007, 12:14 PM
I am really happy to take right issue. I am looking long term value for IBA. It will cross $2 by next year bcoz they got really good management team and i am sure they will turn around iSoft.
billhill
16th-May-2007, 12:59 PM
I am really happy to take right issue. I am looking long term value for IBA. It will cross $2 by next year bcoz they got really good management team and i am sure they will turn around iSoft.
Agreed. I'll be taking the issue also. The merger with isoft will really turn this company into a global player. All they need to do now is add a US division and they would be primed for some pretty impressive growth. Definetly a long term keeper IMO.
Logique
16th-May-2007, 01:27 PM
Me three,
I'll be taking up the Rights Issue for sure, and if Mr Market complies on price will look to top up further.
Sprinter79
21st-May-2007, 05:32 PM
Hi all, just some more info on IBA. I had an unrelated meeting this morning with one of the Perth based companies that is using IBA's products. It may or may not be relevant, but a complete roll out of patient/client management software with hand held devices to 1500+ care/nursing staff is due to be completed in 6-12 months.
This company is the largest community care provider in WA, and is industry leading in many areas. I would be very suprised if most of the smaller community care providers didn't follow suit.
Sprinter79
29th-May-2007, 02:35 PM
Announced a trading halt this morning, potential shiit fight brewing over the acquisition of iSOFT.
Might make some of the refinancing interesting too.
benwex
29th-May-2007, 05:44 PM
today has been advised by iSOFT Group plc (“iSOFT”) that it has received a letter from CSC Computer
Sciences Limited (“CSC”) advising that CSC will not provide its consent to the change of control in iSOFT,
which would result from the completion of the Recommended All Share Offer to be effected by a Scheme
of Arrangement under which a wholly owned subsidiary of IBA Health Limited (“IBA”) will acquire the
entire issued and to be issued share capital of iSOFT.
CSC has not provided any reasons regarding this position and both iSOFT and IBA are now seeking
clarification from CSC regarding this matter.
Both iSOFT and IBA are considering their respective positions and a further announcement will be made
before trading in IBA shares resume...
Sprinter79
29th-May-2007, 08:46 PM
Or for something slightly easier to read: http://news.ninemsn.com.au/article.aspx?id=265921
"Healthcare software provider IBA Health Ltd's planned $333 million merger with its United Kingdom counterpart iSOFT Group Plc is under threat, after a partner of the target said it would oppose the deal..."
HEALTH care software provider IBA Health's proposed $333 million merger with British counterpart iSOFT Group plc appears to have been derailed by an eleventh-hour counter-bid from CompuGROUP UK Ltd.
IBA said yesterday that iSOFT directors had withdrawn their support for the IBA offer and had agreed to a cash offer from CompuGROUP.
The directors of iSOFT have said they will seek adjournment of a court hearing to sanction a scheme of arrangement with IBA that was scheduled for tomorrow.
IBA executive chairman Gary Cohen said iSOFT shareholders had voted less than two weeks ago to adopt IBA's offer and IBA remained convinced its offer was superior on a merged valuation basis. "In light of this, IBA is considering the options available and will make a further announcement in due course," he said.
Mr Cohen said the cash bid by CompuGROUP and its acceptance by iSOFT directors was surprising.
iSOFT intends to terminate the implementation agreement with IBA, which will trigger an obligation on iSOFT to pay IBA and inducement fee of $3.25 million.
iSOFT said on Friday that the offer from CompuGROUP would be carried out by a scheme of arrangement.
CompuGROUP is offering 66p in cash for each iSOFT share, valuing iSOFT at about £160 million ($A374 million).
iSOFT said CompuGROUP UK, a subsidiary of Frankfurt-listed e-health company CompuGROUP Holding AG, was a newly incorporated company formed for the purpose of implementing the scheme of arrangement.
IBA had said that the merger of IBA and iSOFT would create one of the world's largest providers of health care information technology.
bigdog
25th-July-2007, 11:17 AM
ASX announcement today
(profit just exceeds - but revenue much better!!)
25/07/2007 IBA profit exceeds latest FY2007 guidance
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00741724
IBA profit exceeds latest FY2007 guidance
Sydney – Wednesday, 25 July 2007 – IBA Health Limited (ASX: IBA)
Australia's largest listed eHealth company today advised that the profit before tax and amortisation (PBTA) for the year ending 30 June 2007 will be in the range of $31 – $31.5 million, compared with guidance of $30.7 million in February 2007 and PBTA of $18.1 million in FY2006. Revenue will be in the range of $74 – $75 million (FY2006 $59 million).
This result excludes one–off costs relating to the iSOFT acquisition, which to date have totalled $3.3 million net of the agreed break fee, payable if the acquisition does not proceed. These costs have been limited by an early decision to structure advisory fees for the deal on a success fee basis.
deftfear
25th-July-2007, 01:41 PM
This stock is annoying me quite a bit (to put it nicely) They make a takeover offer for isoft, and the price gets hammered, the takeover looks like its not going to proceed, and the stock gets hammered again. Doesn't make any sense to me :confused:
nikki
31st-July-2007, 08:37 PM
i agree about being annoyed - in fact i have been wanting to sell it just to avoid the bizarre ups and downs. the rally today was interesting but there are obviously some big institutional sellers around who do not like the potential of this stock???/ i suspect that if they go back to isoft with a different bid it will cost lots more and this will impact share price once again???? it seems that 1.02 is support and so we might see things go back to that level. i think this one requires commitment to the company - something that i do not think i am interested in anymore??? any thoughts from anyone else?
bigdog
13th-August-2007, 03:06 PM
IBA share price has been dropping every day!
Today IBA $0.87 -$0.03 -3.33% high of $0.91 2,361,146 shares; $2,099,362 @ 13-Aug 14:45:35
ASX ann on higher iSoft offer yesterday and covered by attached press in AGE today
http://www.theage.com.au/news/business/iba-health-plays-hardball-on-isoft/2007/08/22/1187462353226.html?page=fullpage
IBA Health plays hardball on iSoft
Garry Barker
August 23, 2007
IBA Health, Australia's largest listed e-health company, has raised its cash bid for British e-health software group iSoft to £166.3 million ($A410.7 million) and expects to beat off German rival bidder CompuGroup.
The acquisition, if successful, would make IBA the world's fourth-largest e-health group and the largest outside the US.
IBA already holds more than 24 per cent of iSoft, which, IBA executive chairman Gary Cohen said from London yesterday, gave his bid a significant edge. He expected a decision in IBA's favour within two weeks.
CompuGroup had earlier trumped IBA's initial bid with an all-cash offer of £160 million, or 66 pence a share.
IBA's new offer has a scrip alternative; either 69p cash per share or 1.65 IBA shares for every iSoft share, or a combination of both.
The scrip alternative represents an implied offer of 70.2p per share, based on IBA's share price of 92¢ on August 21.
IBA's bid has been supported by Allco Equity Partners, which will make a cornerstone investment in IBA of up to $300 million on completion of the revised offer.
AEP managing director Marcus Derwin said the proposed investment in IBA suited AEP's investment mandate. AEP was attracted to the growth potential of the global health-care IT sector and a combination of IBA and iSOFT was "a compelling investment proposition".
In Australia, IBA transmits financial and clinical data to general, specialist and allied health professionals, Medicare and private health funds, and provides health services to more than 5000 primary care providers, 300 aged and community care facilities, 50 per cent of private hospitals, public hospitals and the Australian Defence Force.
Combined with iSoft, IBA will have a worldwide client list of 13,000, Mr Cohen said.
He said the combination of IBA and iSOFT was expected to increase significantly IBA's 2008 earnings per share before amortisation of acquisition-related intangibles and save $27 million in costs by 2009.
IBA shares, which last Thursday had sales as low as 76.5¢, continued their advance, rising 8¢ to $1.
http://www.ibatech.com
Ken
19th-September-2007, 10:44 PM
Lets bring back IBA.
LOOKS LIKE DEAL IS GOING AHEAD!
Worth a look under $1 or do we see more downside to 70 cents?
I picked up 2000 shares at 93 cents, considering building to 10000 shares.
Thoughts? Brokers love this one. Is it undervalued?
nikki
24th-September-2007, 11:46 PM
i am waiting for the stock to reach better value. i think it got diluted pretty severely with the $300 million capital raising in addition to the ones that a lot of us bought the rights to. also, it is not paying dividends. lastly, the isoft shareholders are likely to dump a lot of their stocks because if i am correct with exchange rates, etc. they are in a far better position than we are. so the donward move is fair and I think a good entry might be in the 0.8's. having said that i have bought IBA at 1.3. 1.2 1.05. so i still think it is a fabulous company once this isoft fiasco is out of the way.:banghead:
bigdog
26th-September-2007, 07:29 PM
Allco Equity Partners (AEP) IBA extract from article below:
It has started the new financial year on a more positive note, through a $324 million cornerstone investment in listed healthcare software provider, IBA Health Ltd.
AEP's investment is conditional on IBA executing a $410 million takeover of UK-based iSoft Plc.
If the IBA transaction goes as planned, Mr Derwin said AEP could still afford to make an acquisition with an enterprise value of $500 million by the first quarter of calendar 2008.
AEP shareholder rile against Allco deal
September 26, 2007 - 12:34PM
http://www.smh.com.au/news/Business/AEP-shareholder-rile-against-Allco-deal/2007/09/26/1190486365920.html
Listed cash box Allco Equity Partners Ltd has come under fire from shareholders over its decision to sell a large stake of the company to close affiliate Allco Finance Group Ltd.
The transaction was approved by AEP shareholders at the group's annual general meeting in Sydney on Wednesday.
But unease over the deal was expressed by a large proportion of AEP's shareholders, including big institutional investor, AMP Ltd.
Since listing in December 2004, AEP has failed to execute a number of transactions, including a part tilt at Qantas, and its shares have fallen substantially.
AEP told shareholders that its deal-making prospects improved in July when it came under the management control of Allco, which invests in global transport and renewable energy infrastructure assets.
The shift in management control involved Allco paying an undisclosed sum for AEP's private management company.
Former Publishing and Broadcasting Ltd head and Macquarie banker, Peter Yates, who stood down as managing director of AEP in July, has declined to reveal how much he was paid for his 30 per cent interest in the management company.
Allco also wanted to lift its stake in AEP to 35 per cent at $5.00 a share, but needed shareholder approval for most of that purchase because AEP is publicly listed.
At the AGM, over 50 per cent of AEP's shareholders abstained from voting on the transaction, including AMP, which holds eight per cent of the group.
New AEP managing director Marcus Derwin told journalists that AMP abstained because it believed the transaction was "out of kilter" with the Australian Securities Exchange's corporate governance standards.
This came despite an independent report by Ernst & Young concluding the transaction was in shareholders' best interests.
"I'm not there to say what was the right price (for the deal)," he told journalists after the meeting.
"I actually see it in totality, and in totality, I think it was a fair and reasonable deal."
AEP chairman David Coe, who is also executive chairman of Allco, said the abstain vote was made "unusually high" because parties set to benefit from the transaction were not allowed to vote.
Mr Coe said the biggest of those shareholders, LJCB Investment Group, held about 20 million AEP shares. About 31 million shareholders voted in favour of the transaction, six million voted against, and 37 million abstained.
AEP was part of the failed $11 billion bid for Qantas and also failed in attempts to buy paint maker Wattyl Ltd and credit checker Veda Advantage Ltd.
It has started the new financial year on a more positive note, through a $324 million cornerstone investment in listed healthcare software provider, IBA Health Ltd.
AEP's investment is conditional on IBA executing a $410 million takeover of UK-based iSoft Plc.
If the IBA transaction goes as planned, Mr Derwin said AEP could still afford to make an acquisition with an enterprise value of $500 million by the first quarter of calendar 2008.
"Funds and borrowings are still obtainable for good transactions and for quality customers," he said.
Mr Coe said higher debt costs due to the global credit squeeze would reduce highly leveraged buyout activity.
But he said big private equity transactions worth up to $10 billion could still be pulled off, but only if players joined forces.
AEP shares, which were originally offered in 2004 at $6.00, closed one cent lower at $3.98 and Allco gained 10 cents to $8.67.
Mr Derwin said he believed that the underlying value of AEP's investments was not reflected in its share price.
patrick
31st-October-2007, 07:04 PM
Thought id brush the dust off this one. Been holding since july and just bought sum more the other for an overall purchise price of $1.13 so now finally getting ahead yah!!:)
Take over of iSoft is finally complete and now we hopefully see some positive movement in the SP.
Anybody else still holding? Anybody want to add their thoughts on IBA?
Lachlan6
31st-October-2007, 11:37 PM
Gday Patrick. I really like the look of IBA from a technical perspective. I see the next target at around $1.45. Check out a post if you would like which I did earlier today under the "My last trade base on T/A" in Trade Systems Section (I think :confused:) Cheers.
imaginator
25th-January-2008, 11:38 AM
Gday Patrick. I really like the look of IBA from a technical perspective. I see the next target at around $1.45. Check out a post if you would like which I did earlier today under the "My last trade base on T/A" in Trade Systems Section (I think :confused:) Cheers.
Can anyone comment why did IBA drop so much? Its 70c now.
Is it just because of the sh*tty market caused by subprime?
Anyone can do a chart analysis or fundamentals update?
Bought some at .605 yesterday:D
happyjack
9th-September-2008, 12:13 AM
Can anyone comment why did IBA drop so much? Its 70c now.
Is it just because of the sh*tty market caused by subprime?
Anyone can do a chart analysis or fundamentals update?
Bought some at .605 yesterday:D
It showing up as a buy on every system that I have got.
Weinstein, guppy, berg, bollinger, have a look and see what you recon
roadtripping
12th-March-2009, 11:28 PM
Today's announcement has me puzzled (holding these ones long term) discounted share offer to raise capital... worrying signs, or good shoring up of position.? Anyone else following them & up with what's going on?
Thoughts or knowledge on this appreciated. Roady.
------------------------------
"• IBA today launched an equity raising of up to $124 million comprising a 2 for 7 accelerated non-renounceable pro-rata entitlement offer (“Entitlement Offer”), at an offer price of $0.55 per share.
• The institutional component of the Entitlement Offer, representing approximately $77 million is committed:
– IBA’s largest shareholder, AEP Financial Services Holdings Pty Ltd (“AEP”), has confirmed its support for the Entitlement Offer and has committed to take up its full pro-rata entitlement under the Entitlement Offer, equivalent to approximately $32 million."
skc
12th-March-2009, 11:45 PM
Today's announcement has me puzzled (holding these ones long term) discounted share offer to raise capital... worrying signs, or good shoring up of position.? Anyone else following them & up with what's going on?
Thoughts or knowledge on this appreciated. Roady.
------------------------------
"• IBA today launched an equity raising of up to $124 million comprising a 2 for 7 accelerated non-renounceable pro-rata entitlement offer (“Entitlement Offer”), at an offer price of $0.55 per share.
• The institutional component of the Entitlement Offer, representing approximately $77 million is committed:
– IBA’s largest shareholder, AEP Financial Services Holdings Pty Ltd (“AEP”), has confirmed its support for the Entitlement Offer and has committed to take up its full pro-rata entitlement under the Entitlement Offer, equivalent to approximately $32 million."
Hey... I only just started using the blog on ASF to write down my thoughts on shares. So go have a look at my take on IBA. It is very important to note that they are purely my view of things - DYOR.
PS - after writing the blog entry I also think that the SP might have been propped up a little in the last few weeks so they get a better price on the rights issue. I have accordingly lowered my entry point, and will wait for the sellers to retreat on the order book before going long.
roadtripping
14th-March-2009, 08:03 AM
Thx for thoughts SKC, IBA's one of my treasured few wins this year.
PS: like your snapshot too :)
Riddick
13th-September-2009, 01:00 PM
Looking at the new offer. 2 x capital raisings in a year. seems a real dilution of value. truck load of debt in a tight marketplace. return on equity starting to slide as a result.
any ideas on the latest offer? i'm disinclined.
babka
13th-September-2009, 03:24 PM
I have no comment to make on their latest capital raising, but just for your info, Huntley/Morningstar has a BUY and "fair value" at $1.10.
We will soon see what will happen. I, too, was surprised with their latest move.
Joe Blow
25th-September-2009, 09:24 AM
IBA Health (IBA) is now known as iSoft Group (ISF).
Discussion of this company now continues in the ISF thread, which can be found here: http://www.aussiestockforums.com/forums/showthread.php?t=17390
