From ABC to Affinity

It seems like only yesterday Mr. Market was foaming at the mouth over the quickly consolidating childcare industry. The share price of ABC Learning Centres fifteen-bagged in the five years to 2006, but the company’s spectacular wipe-out left shareholders with a lingering distrust for the whole sector. Things may be changing, though. Shares of imitator Affinity Education Group have increased 14% since listing on 9 December. Affinity intends to use the money raised from the float to purchase 57 childcare centres (currently under contract) along the east coast and manage another 11. Unlike ABC Learning Centres, Affinity will limit leverage...

It seems like only yesterday Mr. Market was foaming at the mouth over the quickly consolidating childcare industry. The share price of ABC Learning Centres fifteen-bagged in the five years to 2006, but the company’s spectacular wipe-out left shareholders with a lingering distrust for the whole sector. Things may be changing, though. Shares of imitator Affinity Education Group have increased 14% since listing on 9 December. Affinity intends to use the money raised from the float to purchase 57 childcare centres (currently under contract) along the east coast and manage another 11.

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