Australian (ASX) Stock Market Forum

CIM - CIMIC Group

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Trialing some new software and I still have my training wheels on so bear with me as I post a few charts and hopefully I can get 1 or 2 predictions correct

CIMIC recovering from October lows and was picked up in my scan. Wave 4 in the zone and are we looking at another leg up to complete wave 5?

Yesterday's close was a disappointment ( -3.6% ) was this due to the announcement of the 50% sale of Thiess ?


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Trav. said:
Trialing some new software and I still have my training wheels on so bear with me as I post a few charts and hopefully I can get 1 or 2 predictions correct

CIMIC recovering from October lows and was picked up in my scan. Wave 4 in the zone and are we looking at another leg up to complete wave 5?

Yesterday's close was a disappointment ( -3.6% ) was this due to the announcement of the 50% sale of Thiess ?


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We missed the W4 target zone, but today was a big day up 4.1%

I have manually added the (4) and we will see if this is correct

holding

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CIM retracing a bit over the last few days, as can be seen below it hit the minimum W5 point which is a bugger.

Holding but finger poised over the sell button.

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well, its finally happened. The interesting part of this AFR story is that ASX investors are finally getting IPO fatigue.

Apart from Ventia, the AFR lists a number of IPOs that have been pulled in the last fortnight:
Raisings for ASX hopefuls including bus business ComfortDelGro Australia, copper miner Round Oak Metals, doctor booking service HealthEngine, comparison business Compare Club, and the big bopper, SG Lottery, were all pulled in the past fortnight.
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Can't wait for Ventia to list on 19 November. Could be a few bargains to be had from those who have already committed to the IPO.

KH
 
Local Insto's were none too keen on the original $ 1 billion Ventia IPO priced at 12 times earnings with a healthy 6 % yield.
I've only applied for five grand worth, mainly for the dividend . Might try for more if the S.P dips a fair bit on listing.
It's an ok sort of company, for the long term.
 
KevinBB said:
Can't wait for Ventia to list on 19 November. Could be a few bargains to be had from those who have already committed to the IPO.

KH
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dyna said:
Local Insto's were none too keen on the original $ 1 billion Ventia IPO priced at 12 times earnings with a healthy 6 % yield.
I've only applied for five grand worth, mainly for the dividend . Might try for more if the S.P dips a fair bit on listing.
It's an ok sort of company, for the long term.
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No dip, opens at $2.08.
Still looking to buy this if the price does dip later on, but won't chase.
KH
 
Top 20 now hold 92 % of the share registry ,so it's tightly held.
CIMIC shareholders were scaled back to $2,000 + 70 % above that.....just 17 million shares out of the 257 mill in the offer. Insto's got 193 million shares.
 
dyna said:
Top 20 now hold 92 % of the share registry ,so it's tightly held.
CIMIC shareholders were scaled back to $2,000 + 70 % above that.....just 17 million shares out of the 257 mill in the offer. Insto's got 193 million shares.
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And that's why I don't like the current share listing rules. They have been biased against the small shareholder for eons.

What's wrong with a demerger for cases like this, or the good old-fashioned issue of options? The issue sponsors and their close associates,
those who get issued the shares at a discount, seem to make too much money out of issues like this.

KH
 
Spanish construction company ACS is making a $1.5 billion bid to take full control of Australia’s CIMIC Group, potentially ending CIMICs 60 year stint on the Australian Securities Exchange and its decade long power struggle with its biggest investor.

ACS, via its subsidiary Hochtief, has offered $22 a share for all the CIMIC shares it does not already own. The offer was unconditional. The bid was made at a 33 per cent premium to CIMICs last traded price and valued the company equity at about $8 billion.

The deal would see CIMIC, one of the biggest players in Australia’s construction sector, delisted and fully foreign owned. The group has nearly 30,000 employees
 
Taking everything. Hochtief via CIMIC grabbed Sedgman from us during a low a way back. I was a contented holder of Sedgman. Never tempted to follow the transaction into CIMIC which didn't have the quality of SDM.
 
CIMIC makes about $10 billion a year in revenue and $1 billion in earnings from its engineering-led construction, mining, services and public-private partnerships units, which operate under names including CPB Contractors, Leighton Asia, Thiess, Sedgman, UGL and Ventia. Some of the businesses are part-owned with other investors.
Hochtief has had a controlling stake in CIMIC since 2001, and now owns 78.5 per cent of the company. ACS has a 50.5 per cent stake in Hochtief, which is listed in Germany.

and of course, the other end of the biz
Building contractor Probuild has become the largest casualty of Australia’s increasingly pressured construction industry, after its South African parent appointed administrators after propping it up by 2 billion rand ($132.1 million) over the past four years.
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On May 11th, 2022, CIMIC Group Limited (CIM) was removed from the ASX's official list in accordance with Listing Rule 17.14, following compulsory acquisition of its remaining securities by HOCHTIEF Australia Holdings Limited.
 
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