I have been completely ignorant of Infratil until now! They are now added to my watch-list. I did more reading on them. They are like a Wesfarmers of New Zealand with diversified investments on many things but with a focus on tech verticals, infrastructure, healthcare and renewables.
CDC is just one of their investments of which they own less than half at 48.2%.
As to why their string is measured less than the NXT string; who really knows what Mrs ASX Market thinks. It is all subjective.
The facts though as you have pointed above are true, however the thing not shown in the facts for Infratil is that they aren't focused on '1' thing like NXT. They're as I said like Wesfarmers on many different things; however one very big difference, their revenue turnover and EBITDA is orders of magnitude different (LESS) to WES. And since they are from a numbers perspective, literally all over the place, on many different industries and companies, that adds the other half of a "hedge",,...--> "risk". WES is valued high because when you look at their numbers, they are making a huge amount of money. Infratil hasn't cracked $1B AUD yet, their numbers are in less than $1B NZD for EBITDA.
Back to NXT, well, they're valued the way they are now because it is all that they do! They DCs that's it! And they've got the eye of the tiger on their prey at 971.1 MW and like a patient tiger waiting for the times to strike; well, slow and steady wins the race.
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