Any thoughts on recent events? The IPO and Ezi ATM acquisition are interesting developments considering Mark Jones' background in resources and current OKJ holdings - namely ELM.
I've taken a quick look at the IPO prospectus for Oakajee Investments and two questions come to mind.
1. The growth potential for the ATM business given the lack of consumer confidence, lackluster retail sector, competing technology such as Visa Pay Pass and mobile devices payments etc. FS organizations are also introducing new products with no ATM fees at competitor ATMs (Bankwest and ING Direct have for some time). Very little mentioned in prospectus to address these points. 2. Based on net revenue per transaction and historical transactions per ATM, and proposed increase in the fleet of STMs, potential earnings look very attractive in relation to market cap. Is this optimistic?
I'm guessing other invesmets (including resources sector) were considered as this will make up a significant % of OKJs holding. An interesting move - perhaps viewed as a potential cash cow.
Any holders of OKJ looking to participate in rights offer or IPO?
OKJ Price at posting:
26.0¢ Sentiment: Hold Disclosure: Held
