At the time of writing the Celtic ordinary share price is sitting at 68p. For more than a year before the Rangers International share price was announced last month the price of Celtic shares never left the thirties. There has been considerably conjecture on why this is, which is probably worth some comment.
Rangers International’s (RI) opening share price of 70p valued the company at around £50m. By contrast, Celtic, who are and always have been, a top flight club, and who are in the financially rewarding Champions League, were valued at around £34m. On an initial pass, Celtic looked undervalued.
There are a few caveats to this story worth telling before you empty your holiday fund on the latest batch of Dutch tulips. Since Fergus McCann took over in 1994 Celtic have only paid dividends on preference shares, which the FSA require the club to regard as debt, not equity. No dividends have ever been paid on the ordinary shares and there appears to be no appetite among shareholders for this to change.
Celtic shares are also particularly illiquid – very few are available for sale at any point in time. When even a small surge of new buyers enter an illiquid market, without a corresponding rise in the number of sellers, a share price can be bid up considerably. Consider a stable average of 10 buyers and 10 sellers each day of a stock with 29,000 shareholders suddenly changing to 20 buyers and 10 sellers. The price would rocket despite no change in the fundamentals.
The possibility of Celtic playing in a domestic league beyond Scotland has again been on the agenda. Such an outcome would radically change the financial prospects of the club and is likely to have a considerable impact on the share price, but this remains no more than a talking point at the moment. Investors should regard this potential outcome as speculative.
Rangers International attracted considerable investment from organisations seeking a level of financial return which supports that £50m valuation. We can speculate what percentage return they will expect but the RI board have been explicit on their intention to produce a financial return.
I’ll not be investing in either company at the moment. Celtic will not pay a dividend on equity shares (which in years to come will evidently be a really good thing) and although I am sure Rangers International’s board will deliver an on-target return for investors (which in years to come will evidently be a really good thing), they appear negatively surprised by recent news on structural change in the Scottish game. Always take professional advice before investing more than you can afford to lose.
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OK Boys – I have an answer to all the sporting integrity pash from McOist and Chuckles.
Let the new league body begin next season with an SPL1 & Championship – but maintain a third tier and fourth tier of 10 so that “they” can get promoted.
So lets have 12-10-10-10 next season under the auspices of the new body – and then implement the 12-12-18 league setup the following season.
Seems OK to me – and surely gives Chuckles what he wants?
rick-tic
Welcome aboard.
I hear there’s a mini rally gathering in George square as I type in support of the fleg flyers I wonder if Challs is a guest speaker? this after all will be a chance to speak to his core support
leftclicktic 18:37:
Was talking to your Daughter this afternoon when we were picking up our new Car.
Keep the Faith!
Hail Hail!
Estadio Nacional
18:30 on 11 January, 2013
Good to hear Celtic shares are on the up but I switched off at comparisons with a daft wee divison 3 clubs shares.
Majority of CQN posts are about that daft wee division 3 club now, not much to read for folk who have no interest in them.
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Hi m8,
http://www.youtube.com/watch?v=S9s5R8uSoq8
;)
Juve have brought in what they perceive to be a very Strong left back, they are worried about young James tearing them apart like he did to Udinese. I’m glad the 2nd leg is away from home. Our whole game is geared to counter attacking fast and well. If we get a Super Hooper performance that he gave against Spartak away, we will indeed take Italy’s and some would argue, Europe’s finest “all round” team.
0-0 at Celtic Park will be a fantastic result, if we get that I am very confident we will go through.
Kojo
Surely Stan should have shot the driver rather than the poor dugs, who were just obeying orders?
It would be like the Tea Party Nutters shooting at the military and the police rather than aiming for Obama.
tae Continue..
That Night.. Ma Pal Stan.. wiz oan the Local Channel Five..
Being Interviewed..
Fur it is Not Every Day.. that Such an Incident ,which Ah hiv jist described takes place ,in VegaS… No matter wit ye believe..
And
Let me tell you.. Stan wiz Feted AS a Hero.
As He should hiv bin..
His Quick Action..and .. And Equally Quick Draw..,.
Prevented a Nasty outcome.. tae this incident, especially , tae the Security Guard,,
Yep.. it sure maks a Loatta sense tae Hiv a Gun.. i wan o these
Unexpected Confrontos… occurs.
Yep.. They don’t mak them any bettah.. than Ma Pal.. Stan.
True Story,pal..
Kojo
Yer pal..who likes ye aloater.
Valentine’s Day
18:19 on 11 January, 2013
‘Re- Gun debate USA
If everybody in your street has a gun,
you get a gun.’
If everyone in your street has a gun it’s time you moved to a better neighbourhood.
leftclicktic
thankyou this is me just dippin ma toes in the water
There have been times in my life when I have questioned my own beliefs & judgements.
The more I listen to our Fascist Faction,..the more I realise that I am not nearly as out of touch with reality as our sad, self-obsessed trough-gorgers.
I thank whatever Gods may be for my contentment with just having what I need in this world of scarce resources.
I pity those who want MORE than their share.
No, I don’t like THEM.
I just pity THEM.
Super Sally, man of the peelul. A slap in the coupon is it? Could only improve the looks of most of them.
“Aye it’s pure no fair so it isny. If we win the third division we would be in the second, ah think. But why is the fourth division cried the third? Ah could never dae division anyway. The teacher asked if we cut a pie in three how much each person would get. Ah said nane coz its ma pie. Anyway, if they do this league rejig thingy we will be in the bottom divisoon again which isny fair coz we are Ranjurs and we deserve better.”
Kojo…
Good Shootin’,Palomine….
I Don’t Like These Big Dogs At All….
Alsatian/Labrador Crosses Especially…
Pit Bull And The Like….
They Should All Be Band….
Miniature Dogs Are Swell….
And,Of Course, Border Collies Are Too Refined And Intelligent….
To Bite Anyone Out Of Malice…
~~~~~~~~~~
Isn’t Peter Lawwell Playing A Blinder…
Every Time You See Him,He’s Beaming Ear To Ear….
Must Really Sicken The Unwashed Orc Hordes…
I just had to listen to ssb for the comedy value, and it has not disappointed.
The incredibly incendiary perma-rage thick are eithe off to The Conference in Ingurland, or they’ll be forming a European League of their own with Sky, or they are getting boosted back to the apex of Sottish football.
There is no equivocation on any of these matters. They are all stone certaintities. Should be fun watching them achieve all three simultaneously.
Don’t they realise NOBODY wants them?
They give the word ‘stupid’ a whole new depth.
marti sandino
16:37 on
11 January, 2013
…………….
Good luck in Kibera, I donated some dosh to Greenlion2`s daughter who is going out as well. Fair play to both of you, good luck.
V
Somebody Gie Sad Ol’ Kilbowie’s Catheter A Yank…..
Thanks In Advance…. ;-)
Lennybhoy…Supporting Neil Lennon and CFC until I die
She was in after work bud, collecting her better half & the wee mhan.
ps Good to see you on,
So what if we’re keeping a beady eye on the cheats? They are such good comedy value.
And if we didnae keep slaggin’ them, they might think they’re getting away with it.
Not while I draw breath. I wiil be at their graveside, making sure they are interred face down.
It’s a long way to China.
My dear,dear,dear,friend… The Singing Detective
Yep.. Pierre is a Great and wise Leader..
Ah am delighted with his. Stewardship..
In Fact.. Ah widnae be surprised if..
He wiz awarded..
a Big Fat raise..
and..
If Anybuddy deserves wan of them..f
It’s
the Sapient.. Peter..
Gotta Go Pal..
See You.
‘
Kojo
yer pal..who likes ye aloater..
Still, Laughin’
Glasgow city centre closed due to a demonstration
police estimate a crowd of over 1 million
and that’s the honest truth.
allegedly
Rubicon 18.33
A very valid train of thought.
A67
…..in fact, let’s revise that thought.
Let’s go 12-12-10-10 next season and invite two extra teams into the league – teams that Sevco gazumped due to a little help from their friends.
Lets have Spartans and somebody out of the Highland League to spread the good news around.
Season after next we go 12-12-20 and everyone’s a winner – eh Chuck?
I am serious by the way….
Stats beat selective anecdotes anyday
Gun ownership in number of guns per 100 residents
USA- 88.8
Sebia- 58.2
Yemen- 54.8
Switzerland- 45.7
Cyprus- 36.4
Saudi Arabia- 35
Iraq- 34.2
Finland- 32
Uruguay-31.8
Sweden- 31.6
Murder rate for these countries:-
USA- 4.8
Sebia- 1.2
Yemen- 4.2
Switzerland- 0.7
Cyprus- 1.7
Saudi Arabia- 1,0
Iraq- 2.0
Finland- 2.2
Uruguay-5.9
Sweden- 1.0
Maybe the conclusion should be that, if you are American, Yemeni or, particularly, if you are a compatriot of Luis Suarez, you cannot be trusted with guns.
The picture is complex. Many poor African countries have much larger murder rates and the homicide rate in the USA has declined by almost half in the past decade but they remain a more murderous society than other comparable nations (Canada, UK, Japan, Holland etc;)
One, howevah, kin only tek so much of ole Ess Ess Bee, uthawise one maht fand oneself tuhnin’ into sum kinda hillbilly, y’all follah me?
Think ah’ll buy me a gun……
“Our lives begin to end the day we become silent about things that matter”
Martin Luther King, jnr.
seenonfacebookcsc
Enjoy yer Friday night, bhoys and ghirls! I’m off to live the life I lead away from CQN.
HH!
valentines day
just clicked on to live web cam at george sq not a soul there,what time this due to happen
Let’s spare a thought for the Suffragers ( as someone on here almost called them yesterday).As they get ready to visit another backwater of Scottish football, The Bhoys get ready to play Steaua Bucharest – the 6th former winners of the Big Cup that the Hoops have met this season (Ajax, Inter, Real Madrid, Benfica and Barca having already played us) and of course Juventus will be the 7th. isn’t it nice to move in such illustrious circles?
lorna gets her 4 seats together,
see our celtic, we are just a step ahead of all the slap heids.
another slap in the coupon
hehehehhehehhe
good evening cqn
have not looked back,STV sport,Super allys friday night rant,saying sevco biggest team in scotland,where does that put the team that is in the champions league,him and chuckles are a couple of fudds,they are hurting bad,long may it continue.
But my only worry with this whole show,is god forbid is some one gets hurt.
H H
leftclicktic
18:57 on 11 January, 2013
“Our lives begin to end the day we become silent about things that matter”
Martin Luther King, jnr.
seenonfacebookcsc
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And that is why this site is so special, in so many ways. Paul67 let’s everyone say what they want to say.
I read this site more than the Bible itself. ;)) I cannae gie it any higher praise than that.
Police incident at George Square as I type (From JDelahunt SSB) wonder what that could be. :)
The Singing Detective Demands The Resignation Of Campbell Ogilvie
18:45 on
11 January, 2013
Kojo…
Good Shootin’,Palomine….
I Don’t Like These Big Dogs At All….
Alsatian/Labrador Crosses Especially…
Pit Bull And The Like….
They Should All Be Band….
Miniature Dogs Are Swell….
And,Of Course, Border Collies Are Too Refined And Intelligent….
To Bite Anyone Out Of Malice
~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~ ~~~~~~~~~~~
TSD
I have little doubt that KOJO will agree,as he is very fond of his lapdog….
Just saw the article by Billy McNeil in one of todays rags……
Very poor article big man……..
If its correct………..hang yer head in shame……….
BFFJ , keevins and numerous servconians wimpering about reconstruction and how they have nothing to play for???????
Of course they have !!!!
It will be their first ever league championship !
Well done, Celtic for fixing Lorna’s ticket problems. Shame it took getting a call broadcast on Clyde to get the action though. Lorna and her family along with the rest of us keep the club going. We are it’s lifeblood.
Miki67 – you have one? :-D
I honestly enjoy your rants on here. Long may they continue!
DontPatmadug
The removal of the Ice Rink and Helter Skelter?
pauloantony
too true, they are dead keen on world records. I would also have thought that being the last ever winners of the SFL Division 3 title would have a lot of kudos in their wee world.