Author Topic: Fairfax India new issue  (Read 111237 times)

FairFacts

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Re: Fairfax India new issue
« Reply #230 on: April 03, 2018, 01:30:33 PM »
According to the press release last week, FIH is paying $67mil for the additional 6% of BIA.

At 12/31/17 in their Shareholders letter they were holding 48% of BIA at a cost of $585mil and a MV of $608mil. If this is correct they picked up the 6% at a discount both to their12/31/17  cost and MV.

Am I missing something?



petec

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Re: Fairfax India new issue
« Reply #231 on: April 04, 2018, 01:07:59 AM »
See above. They paid a higher price for the bloc that enabled them to remake the board and name the CEO. So that has inflated YE17 average cost. I'm not sure what the MV is off the top of my head - it's not listed.

hobbit

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Re: Fairfax India new issue
« Reply #232 on: April 09, 2018, 12:49:42 PM »
https://www.bloomberg.com/news/articles/2018-04-09/new-york-s-jfk-booted-out-of-world-s-top-20-busiest-airports

wrt to india and bial...delhi is at 16 with 63 million passengers growing at 14% yoy...

also below is a recent conversation where watsa discusses fairfax India..interesting insights into role of Deepak Parekh as well.

https://www.youtube.com/watch?v=4XuBysRnGNc
« Last Edit: April 09, 2018, 06:09:20 PM by hobbit »

alpha

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Re: Fairfax India new issue
« Reply #233 on: April 09, 2018, 04:05:24 PM »
https://www.bloomberg.com/news/articles/2018-04-09/new-york-s-jfk-booted-out-of-world-s-top-20-busiest-airports

wrt to india and bial...delhi is at 14 with 63 million passengers growing at 14% yoy...

also below is a recent conversation where watsa discusses fairfax India..interesting insights into role of Deepak Parekh as well.

https://www.youtube.com/watch?v=4XuBysRnGNc

Great interview, thanks

hobbit

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Lakesider

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Re: Fairfax India new issue
« Reply #235 on: July 29, 2018, 01:52:15 PM »
This has come back down to about P/B (31 march) of 1.1, Indian markets have recovered from the dip in since so todays PB likely even better.

Keeping my eye on this thinking about adding more.

tradevestor

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Re: Fairfax India new issue
« Reply #236 on: August 02, 2018, 02:47:47 PM »
As of June 30, 2018,   common shareholders' equity was $13.26 per share.  That sets the P/B at 1.22, with the current price of $16.12

Lakesider

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Re: Fairfax India new issue
« Reply #237 on: August 02, 2018, 03:05:32 PM »
Thanks tradevestor, not sure why i was looking at march..

valueinvesting101

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Re: Fairfax India new issue
« Reply #238 on: August 09, 2018, 09:01:16 AM »
Kempegowda international airport sees 32.8% jump in passenger traffic

Read more at:
http://timesofindia.indiatimes.com/articleshow/65295980.cms

KIA has also reported a record 98,869 passenger arrivals and departures on June 30, making it the busiest day since the airport commenced operations in 2008. KIA recorded a footfall of 26.9 million passengers in 2017-18.

Domestic and international passengers grew by 35.8% and 16.8%, respectively, between April and June this year. As many as 6.94 million domestic flyers and 1.08 million international travellers passed through the airport.

Fairfax India has paid for $653 million so far for 54% stake in the airport but currently carrying on the book at $643. I believe this significantly undervalues the airport which is growing at such a high rate and expected to grow with addition of new terminal and growth in Indian economy and especially Bangalore.



rohitc99

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Re: Fairfax India new issue
« Reply #239 on: August 09, 2018, 09:32:18 AM »
Kempegowda international airport sees 32.8% jump in passenger traffic

Read more at:
http://timesofindia.indiatimes.com/articleshow/65295980.cms

KIA has also reported a record 98,869 passenger arrivals and departures on June 30, making it the busiest day since the airport commenced operations in 2008. KIA recorded a footfall of 26.9 million passengers in 2017-18.

Domestic and international passengers grew by 35.8% and 16.8%, respectively, between April and June this year. As many as 6.94 million domestic flyers and 1.08 million international travellers passed through the airport.

Fairfax India has paid for $653 million so far for 54% stake in the airport but currently carrying on the book at $643. I believe this significantly undervalues the airport which is growing at such a high rate and expected to grow with addition of new terminal and growth in Indian economy and especially Bangalore.

also what gets missed is the land around the airport ..the pace at which the city is expanding (exploding is a better term), this land is going to be very valuable.

air travel has become affordable for a very large segment of the population and its going to grow for some time