One51 'will not be bought out' at current share price

A leading analyst yesterday said he would be surprised if One51 were to be bought out around its current share price of €1.85 and believes that the plastics, waste management, and NTR stake-owning group led by chief executive Alan Walsh remains intent on bringing the firm to market in an initial public offering sometime in the future.

Darren McKinley, analyst at Merrion Stockbrokers, reiterated his forecast that One51 shares could reach a price target of €2.18 by July 2016.

He said an approach made in recent months by investment firm CapVest valuing One51 at €1.80 a share or around €282.5m was likely to be “opportunistic” at that price.