Flight Centre (FLT): Winner

Submitted by Marco on 31 October, 2006 - 06:49

Flight Centre (FLT) Stock Price Chart

Flight Centre (FLT) is the best performing stock on the Australian sharemarket this week (Winner of the week for week 43 of 2006). The FLT stock closed the week 24 percent higher after a bid for the company. There is a bid by its founders to delist the travel company in a $1.6 billion private equity bid. Founding shareholders led by executive director Graham Turner own 57 per cent of the company, and are offering $17.20 a share to buy out minorities in conjunction with Pacific Equity Partners. Lazard Asset Management is the largest of the minority shareholders, having lifted its stake from 9 per cent to 12.5 per cent in August. Commonwealth Bank has 5 per cent of the company.

Flight Centre Limited is listed on the Australian Stock Exchange (ASX) under stock code FLT. You can view their investor website here. FLT was listed on the ASX on 1 December, 1995. Flight Centre Limited is Australasia’s best known travel agency group and now boasts more than 1500 shops and businesses in nine countries. Flight Centre, through its retail and corporate brands, provides a complete travel service for leisure and business travellers in Australia, New Zealand, the United States, Canada, the United Kingdom, South Africa, Hong Kong, India and China. In addition, Flight Centre's (FLT) corporate travel management network, FCm Travel Solutions, extends to more than 40 other countries through strategic licensing agreements with independent local operators. Browse for Australian stockbroker recommendations. Check your charts and good luck with your share trading!