I actually got some in the IPO which looks a bit stupid now. After the drop yesterday its trading at 11x FY14 and 9.8x FY15 prospectus forecasts.
It's been compared to MMS and is definitely similar however SGF has a lower portion of its business exposed to the govt tax break (around 28%) and over the last few years it's growth has come from the corporate leasing market.
Also SGF does not fund leases like MMS so it is less capital intensive, FY14 ROE is forecast at around 35%. D/E is 5% for SGF vs 65% for MMS.
AFR reckons turnover was very low yesterday, only 3% of stock where often 10-15% change hands on the opening day.
I actually got some in the IPO which looks a bit stupid now....
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Last
$3.33 |
Change
0.000(0.00%) |
Mkt cap ! $878.9M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 75859 | $3.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.33 | 3000 | 1 |
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| Last trade - 09.30am 04/12/2024 (20 minute delay) ? |
| SGF (ASX) Chart |
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