Spark Infrastructure

Spark Infrastructure has announced its disappointment after being outbid for the Sydney desalination plant by a consortium including Ontario Teachers' Pension Plan and Hastings Funds Management. In stark contrast, investors were relieved and have since bid the security price back above $1.50. With no immediate plans to raise capital or make an acquisition, we considered upgrading Spark to Hold based on its current valuation. But there were two major red flags in the announcement. Twice it mentioned that management had and would consider acquiring assets overseas. While this may never happen, it shows management's ambitions are grander than we...

Spark Infrastructure has announced its disappointment after being outbid for the Sydney desalination plant by a consortium including Ontario Teachers' Pension Plan and Hastings Funds Management. In stark contrast, investors were relieved and have since bid the security price back above $1.50.

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