Aer Lingus Group, Dalata Hotel Group, Donegal Investment Group, Escher Group Holdings, Irish Residential Properties REIT, Irish shares, Irish Stock Exchange, Irish value investing, ISEQ, Karelian Diamond Resources, Mainstay Medical International, TGISVP, The Great Irish Share Valuation Project, TVC Holdings, Zamano
Continued from here:
[NB: Worth revisiting Part I if you’re a new reader, or you’d like a refresher on TGISVP & my approach to the whole project.]
OK, it’s the final furlong..! This should be my last TGISVP post – that will make it a grand total of 80 Irish companies, all covered in very random order since February. Except this last post – I deliberately withheld DCP:ID & ZMNO:ID ’til I got around to posting separate write-ups for each, plus I’ve only just added another 3 (recent) Irish IPOs. I also debated including 3 other vaguely ‘Irish’ stocks, but decided (somewhat arbitrarily) against them in the end…
[FYI, my 3 rejections were:
– Kennady Diamonds (KDI:CN): Dermot Desmond has long been involved here – he currently owns a 17.5% stake & the Chairman Jonathan Comerford’s actually an investment manager with IIU. However, the company has no other Irish connections, and I’ve never noticed any kind of Irish PI/institutional following for the stock.
– Kennedy Wilson Europe Real Estate (KWE:LN): KWE’s a new fund launched by Kennedy-Wilson Holdings (KW:US), focused on investing primarily in real estate & real estate loans in the UK, Ireland & Spain. While the fund’s already completed a chunky Irish acquisition, one would expect Irish assets will ultimately be the smallest component of the portfolio (considering the relative size of the UK/Spanish economies & property markets).
– Metro Baltic Horizons (MET:LN): MET’s another of those funds launched back in 2006 – focused on property development in the Baltic States & St. Petersburg, and targeting a minimum 25% IRR. Aaah, those were the days, eh..?! Garrett Kelleher & Dermot Desmond/IIU (again!) originally backed the company (with a 27% stake between them), and after some farcical/fraudulent events along the way, the board’s now comprised of a senior IIU executive & two other Irish directors. MET has become a cash/litigation shell & a suspension of its listing’s now imminent – but we should hopefully see some new proposals (inc. a continuation of MET’s listing) from the board shortly.]
So, without any further ado – let’s dive right in & finish up: