We currently have most of our investment eggs invested in Hong Kong/China. In an effort to get a little more diversification into the portfolio, I purchased some NZD on Monday (@ 6.5786) and have opened a position in Chorus (NZX: CNU).
CNU is largely the fixed line business from the demerged Telecom Corporation. CNU's share price has been hammered over concerns regarding a review of its pricing by the Commerce Commission and expectations of delays and cost overruns for its UFB project. Should either or both of these concerns be overstated, then the shares should get a lift. In the meantime, the expectation is that the current dividend will continue to be paid for at least 2013 and 2014 and (probably) 2015 which gives a degree of protection.
I paid NZD2.68 per share.
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