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Yes no doubt the association with QPP has had some repetitional damage. But the issued 'leaked' report about QPP I hope has resolved some of it's reputation. But unlike QPP its balance sheet is real. It has strong real cash flow is real. It has real earnings growth and s undervalued.
I agree with you entirely but I`m waiting to see if there is any comeback in respect of their association with QPP.before re-investing here
Hi everyone. I wanted to look at this company for a while now and did so this morning. Despite the negativity drawn recently to it, I think this is a fundamentally sound business with nice balance sheet, strong cash flow etc. I have bought into this today because the business is undervalued giving all the metrics that I use. GL
Can someone please help me here? I have looked at the IPOs in the 2nd half of the year that cenkos have dealt with and they certainly don't match up for the big IPOs in the first half of the year, does anyone have an idea on how much money cenkos makes from each IPO and how else it makes its money?
It is starting to recover now I think having seen sold down aggressively. Whether buyers will outweigh those selling into a slight bounce remains to be seen. If it is a shorting attack, some may be closing their positions of course having made a good turn. It might finish at 175p today as it looks for direction.
Thanks, when it stabilises I think I am going to buy more, looks too cheap, especially with all the recent good news for the company
IMO it's likely an attack by the short sellers who are short on QPP in an attempt to pressure Cenkos into resigning as their nomad. Very underhand these shorters.
Can't see what else it could be ST. And it is accelerating. I am staying in for now, The wide spread makes it look worse than it is but the drop is still alarming. I hope the company puts out an RNS to stop the slide.
Is anyone aware of a reason for the significant drop in the SP today? Surely this can't all be because of quindell?
share price is up five fold in two years
Even better than I expected. Even if H2 is lacklustre the forward PE and forward EV/EBIT would both be around 7. The yield is 6% - which is well above average. Just incredible. ...although I think H1 of 2014 was an exceptionally good time for this industry sector so I doubt they could emulate that next year...
Excellent half year results. Interim dividend doubled to 7p. Should be decent rise in sp this morning.
I am. I thought you were too, because of your id, but your English sounded too good to be a non-native speaker.
Libero is actually my dad's first name but even he would say he's English, not Italian lol
Haha not really. I have Italian heritage and an Italian surname but I was born in England, I've always lived in England, and I feel English (and my name's Dan) so no not really.
Cheers mate
Senior notes offering. Cenkos working for them. What a day!!!
Are you Italian?
Whoa I did not realise CNKS was QPP’s Nomad but it turns out they are. I see this as a negative really because QPP is generally quite dodgy from what I can tell, thus the sustained attacks from TW and, as you can see from the link below, TW’s attention has now included CNKS for the first time. Bit disappointed by this tbh. http://www.shareprophets.advfn.com/views/6154/a-formal-request-to-the-fca-aim-regulation-regarding-quindell-and-cenkos-regarding-the-pt-lie
Superb trading statement and now I wish I took my own advice when I touted this as a Strong Buy at 178.5p - I'd be 21% up (on the mid price ofc)
nice one indeed
Cenkos Securities plc is today issuing a trading update in relation to the six months ending 30 June 2014. The Company is pleased to report that its recent level of trading is expected to be stronger than previously anticipated. The Company's revenues and pre-tax profits for the six months ending 30 June 2014 are, therefore, expected to be in excess of the results for the full year ended 31 December 2013 and significantly higher than market expectations for the current year.
Friday, June 20: Despite the disappointing debut of its sister company Saga (LON: SAGA) and the constantly shifting market conditions, AA’s accelerated bookbuild has been oversubscribed, The Times reports. Bob Mackenzie, former boss of Green Flag, the car insurance provider, and Cenkos Securities are said to have secured more than £1.385 billion from a range of blue chip investors. Cenkos is still working on the breakdown service provider’s IPO which will enable owner Acromas to exit the company entirely. When the IPO was announced two weeks ago Acromas, co-owned by Charterhouse, CVC Capital and Permira, declared that they had agreed to sell 69 percent of their stake in the company to 11 of the City’s leading institutions. (AA to go public with accelerated IPO) At that time, the AA had already received binding commitments of over £930 million from institutions. Sources close to the floatation process stated that since the announcement there has been a significant increase in demand from institutions wanting exposure to the company. The AA is said to have now secured a further half billion pounds of commitments. By contrast, when Saga floated on the LSE, weak institutional demand prompted Acromas to shelve plans to sell additional shares, scaling back initial expectations that the IPO would be oversubscribed. (Saga IPO attracts significant grey market interest). The new AA investors include a mixture of pension funds, private client wealth managers and alternative asset managers, who will pay a set price of 250 pence per share. Neil Woodford, one of the best known and best performing UK fund managers, is also backing the AA flotation. His firm, Woodford Investment Management, will become an investor alongside Invesco, Woodford’s previous employer. The AA has close to 16 million customers and members which accounts for around 40 percent of the roadside insurance market. The company offers a variety of services including car insurance, driving school, loans and motoring advice. When the company’s IPO plan was announced some potential investors were put off by AA’s £3 billion debt. However, the breakdown cover provider, which generates millions of pounds of free cashflow each year has already outlined a plan for paying down its borrowings. One of the investors said that the business was “highly attractive” despite the debt. He added: “There is always a concern when you have such high net debt, but there seems to be an immediate opportunity to reduce the interest bill. Our feeling is that the AA is not dissimilar to a utility or water company — you can’t do without it — and it does seem to have a ‘sticky’ customer base who always renew their subscriptions. “It is also operating in an unregulated sector which is attractive and Bob Mackenzie is a man that we are prepared to back and follow. He will be going in as a very experienced executive chairman
Yes, the level of noise around the flotations of AA and RDT is quite different though, and I like the word oversubscribed. In a few days we will receive official news hopefully.
Cenkos is also the nomad to RDT RDT is an interesting one because it was originally going to float at £60m MC yet it floated at £25m instead in the end. Not sure if that's a sign of things to come or not...