In today’s briefing:
- De Grey Mining/Northern Star Resources: The Passive Flows
- Kina Securities Meeting (KSL AU): A Papua New Guinea Commercial Bank.
De Grey Mining/Northern Star Resources: The Passive Flows
- With De Grey Mining (DEG AU) shareholders approving the acquisition by Northern Star Resources (NST AU), we move to the phase of passive index flows.
- As expected, Generation Development Group (GDG AU) will be added to the S&P/ASX 200 (AS51 INDEX) at the close on 23 April to replace De Grey Mining (DEG AU).
- There will be passive inflows for Northern Star Resources (NST AU) from some local and global index trackers due to the increase in the number of shares outstanding.
Kina Securities Meeting (KSL AU): A Papua New Guinea Commercial Bank.
Last week, I had the pleasure of meeting the senior management team of Kina Securities (KSL AU — US$193 million) — a Papua New Guinea- (“PNG”) based commercial bank listed on the ASX.
Participants included Kina Securities’ CEO Ivan Vidovich and CFO Johnson Kalo.
The bank trades at a modest P/E ratio of 8.2x with a dividend yield of 9.2%. While the share price has risen recently, it remains well below its all-time high in 2019.
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