When an ASX All Ordinaries Index (ASX: XAO) share is already up 27% over the past 12 months, but one of its directors is still buying up shares, it’s going to turn some heads. ASX All Ords investors love to see directors, CEOs, and other insiders buying up shares of their own company at the best of times.
But after these sorts of gains are under the belt? That’s something you certainly don’t see every day.
Yet that’s the situation greeting investors of Infratil Ltd (ASX: IFT) right now.
Infratil is a New Zealand-based company with a rather unique modus operandi. It invests in a variety of other assets, including airports, healthcare services, and renewable energy.
Yes, the Infratil share price has been a top performer over the past 12 months. The company was priced at around $6.86 a year ago and traded at $8.09 at the start of 2023. Infratil shares closed yesterday at $8.70 apiece. That’s a gain worth an impressive 26.8%, as you can see below:
But despite this, multiple Infratil insiders have gone on a buying spree in recent months.
Multiple insiders buy up ASX All Ords share Infratil
According to an ASX/NZX release from March, Infratil CEO Jason Boyes picked up just over 715,000 additional shares in an on-market purchase back on 30 March.
Fast forward to this month, and we have another bevy of insider buys. Between 9 and 13 June, director John Clark purchased more than 150,000 Infratil shares in on-market transactions.
Not to be outdone, CEO Jason Boyes promptly bought another 118,464 shares on 14 June.
On that same day, we saw another director Alison Gerry pick up 4,308 shares in an on-market buy. Later, on 19 June, yet another director in Kirsty Mactaggart acquired 1,543 additional shares.
These June buys come after Infratil completed an institutional equity raise back on 8 June, raising NZ$750 million. The company currently has a retail share offer open to all Australian or New Zealand investors, from which it hopes to raise another NZ$100 million. Infratil plans on using these funds to partially fund Infratil’s acquisition of New Zealand telco One NZ.
No doubt, All Ords Infratil investors will be encouraged to see the company’s management invest so much skin in the game. Insider buys are never unwelcome for shareholders, and these ones will probably be no different.
