Graincorp is now under Algo Engine buy conditions and buying support has developed around $9.00.
The story gets slightly more complicated for investors, following Graincorp announcing they intend to demerge the global malting business into a separate ASX listing. This is likely to occur in the second half of 2019.
This will then leave the integrated grains & oils business as a separate ASX listed company.
We believe the standalone malt company will be an attractive investment.
Author: Leon Hinde
Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.
PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:
· Deposit Products
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks