Chorus shares 'extremely undervalued', says biggest shareholder

Tue, 26 Mar 2019

By Paul McBeth March 26 (BusinessDesk) - Chorus shares hit a record earlier this month but are still "extremely undervalued", according to its biggest shareholder. Australian fund manager L1 Capital owns 63.6 million Chorus shares, or 14.8 percent of the company. The holding is one of the largest long positions for the ASX-listed L1 Long Short Fund. It bought into the New Zealand network operator at $1.60 a share in September 2014 and has seen the price rise as high as $5.86 on March 15. The stock was recently at $5.67, a price-to-ear...

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