PICK OF THE MONTH: Trencor
At this delicate juncture IM reckons Trencor is a share worth tucking away
The push by Trencor for an inward listing of its controlling stake in New York Stock Exchange-listed container leasing specialist Textainer on the JSE is a welcome development. By all accounts deliberations in this regard should be finalised by year the end of the year — a development that will hopefully coincide with an improved profit performance. Textainer is the world’s second-largest container leasing company. It was previously the biggest, but its reluctance to embark on corporate action meant that Triton emerged as the big dog (after merging with rival TAL in mid-2016). Some punters would argue that size does not matter. But in Textainer’s case size is a critical issue, as Triton has emerged as the top-rated container leasing company by a fair stretch. Textainer’s share price has been under water in the past 18 months, though the company has admittedly been rocked by the sinking of the Hanjin shipping line. Long-time Trencor shareholder Chris Logan, speaking at the company’s ...
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