Ebos Takes Care of Debt After Acquisition Streak
We maintain our AUD 20.00 (NZD 21.00) fair value estimate for Ebos, following the group's fully underwritten NZD 150 million share placement. We calculate the issue to be merely 2% EPS-dilutive on a pro-forma basis, with the 5% increase in the share base partly offset by lower forecast interest charge from the reduced debt. Shares in Ebos were trading broadly in line with our fair value estimate before the capital raising announcement.Issue of the new shares at NZD 19.70 each, just 6% below our...
EBOS Group is a provider of medical and healthcare products to the human and animal markets. Co. operates in two business segments, being Healthcare, which incorporates the sale of healthcare products in a range of sectors, own brands, retail healthcare, wholesale activities, and logistics; as well as Animal Care, which incorporates the sale of animal care products in a range of sectors, own brands, retail and wholesale activities. Co.'s operations are primarily in New Zealand and Australia.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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