Author Topic: Fairfax India new issue  (Read 198641 times)

original mungerville

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Re: Fairfax India new issue
« Reply #40 on: March 12, 2015, 03:14:58 PM »
what's up with the share price today?  it is a pretty hefty premium at this point!

cheers
Zorro

Did the fund raise $US or Cnd?


barsax

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Re: Fairfax India new issue
« Reply #41 on: March 12, 2015, 03:39:06 PM »
FIH.U.TO trades in Toronto in $USD

RichardGibbons

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Re: Fairfax India new issue
« Reply #42 on: March 12, 2015, 06:26:04 PM »
what's up with the share price today?  it is a pretty hefty premium at this point!

It was mentioned in a (non-subscriber) mass email from the The Motley Fool Canada. That may account for it.

giofranchi

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Re: Fairfax India new issue
« Reply #43 on: March 13, 2015, 08:41:55 AM »
Is the NAV $10 USD per share?

Thank you! :)

Gio
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bearprowler6

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Re: Fairfax India new issue
« Reply #44 on: March 13, 2015, 09:14:29 AM »
Hi Gio,

Yes---the NAV at the time the company went public was $10 USD---in late January.

The US dollar has strengthened somewhat against the Indian Rupee since the issue date so the "purchasing power" of the funds raised has increased.

The investment mandate is quite broad -- giving the Hamblin Watsa team a lot of latitude. Although no acquisitions have been announced publically it is impossible to know at this point whether any of the funds raised have been deployed or fully remain in USD.

I would highly recommend a read through the prospectus if you haven't had a chance to do so already. It can be found by searching the company's documents on Sedar.

Take care,

BP6

giofranchi

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Re: Fairfax India new issue
« Reply #45 on: March 13, 2015, 09:20:47 AM »
Hi Gio,

Yes---the NAV at the time the company went public was $10 USD---in late January.

The US dollar has strengthened somewhat against the Indian Rupee since the issue date so the "purchasing power" of the funds raised has increased.

The investment mandate is quite broad -- giving the Hamblin Watsa team a lot of latitude. Although no acquisitions have been announced publically it is impossible to know at this point whether any of the funds raised have been deployed or fully remain in USD.

I would highly recommend a read through the prospectus if you haven't had a chance to do so already. It can be found by searching the company's documents on Sedar.

Take care,

BP6

Yes, I have found on the prospectus Equity per share was $10 USD, but I was not sure if the $billion raised is still parked in cash or already invested… in part at least. Though I guess, if they had made an acquisition, they would also have published a press release, right?

Why are prospectuses always so incredibly long?!... I will try to read this one anyway! ;)

Thank you! :)

Gio
« Last Edit: March 13, 2015, 09:23:08 AM by giofranchi »
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hillfronter83

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Re: Fairfax India new issue
« Reply #46 on: March 13, 2015, 09:28:13 AM »
There was a $0.5/share underwriting fee, which was eliminated or discounted for large order. So I would imagine NAV is slightly under $10/share.

FFHWatcher

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Re: Fairfax India new issue
« Reply #47 on: March 13, 2015, 10:28:22 AM »
Hi Gio,

Yes---the NAV at the time the company went public was $10 USD---in late January.

The US dollar has strengthened somewhat against the Indian Rupee since the issue date so the "purchasing power" of the funds raised has increased.

The investment mandate is quite broad -- giving the Hamblin Watsa team a lot of latitude. Although no acquisitions have been announced publically it is impossible to know at this point whether any of the funds raised have been deployed or fully remain in USD.

I would highly recommend a read through the prospectus if you haven't had a chance to do so already. It can be found by searching the company's documents on Sedar.

Take care,

BP6

Yes, I have found on the prospectus Equity per share was $10 USD, but I was not sure if the $billion raised is still parked in cash or already invested… in part at least. Though I guess, if they had made an acquisition, they would also have published a press release, right?

Why are prospectuses always so incredibly long?!... I will try to read this one anyway! ;)

Thank you! :)

Gio

Why would they issue a press release?  They certainly don't at Fairfax, so unless it is required under law, I wouldn't expect that they issue press releases, just quarterly Sedar filings.  If they take more than 10% or so, perhaps they might have too. Not sure if that would be governed under Cdn Securities laws are Indian Laws?  Cdn Security laws I assume, meaning if they acquire >10% of a particular company, they may have to report it on Sedar.

barsax

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Re: Fairfax India new issue
« Reply #48 on: March 13, 2015, 12:06:52 PM »
Despite the 10 $USD issue price I found an insider report posted March 12th on the TMX market site:

http://www.tmxmoney.com/TMX/HttpController?GetPage=SearchInsiderTrade&Language=en&Submit=Submit&QuerySymbol=fih.u&x=28&y=18ftp://

Someone bought 7099 shares @ an average price of $10.82 per share

giofranchi

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Re: Fairfax India new issue
« Reply #49 on: March 16, 2015, 07:29:48 AM »
I have just put 8% of my firm’s stock market investments portfolio in FIH.

Maybe I have paid a bit more than many people on this board are used to and like…

But we all know the kind of growth Watsa & Company are purchasing in India and at which prices. Not to act on such an opportunity imo would have been a serious mistake of omission! ;)

Furthermore, I have left plenty of room to average down: at the right price I would gladly double the percentage of my firm’s portfolio invested in FIH.

Cheers,

Gio
Portfolio: AAPL, AMZN, BABA, BOSS, BRK.B, FB, FFH, FIH.U, FINX, FWONA, GOOG, IBB, JPM, LBRDA, MKL, NKE, QQQ, SFTBF, SMH, TCEHY, V, XBI, XT