Rangatira Annual Report 2023 - Flipbook - Page 69
Ra n g a t i ra An n u a l Re p ort 2023
Rangatira Group
Notes to the Consolidated
Financial Statements (continued)
For the year ended 31 March 2023
Company Detail
Fair value
$000
Shareholding
Valuation
Significant
Assumption
Reasonable
Change in
Market
multiples
calibrated
with recent
investment
prices
Price /
Tangible Book
Value multiple
1.14 times
0.6 times
+22.3
(-22.3)
Market
premium
14%
12%
+4.7
(-4.7)
Value of
Kiwifruit land
$1.1m - $1.35m
per hectare
$0.3m per
hectare
+7.5
(-7.5)
15% - 30%
Significant
unobservable
inputs
Assumption
Reasonable
Shift
Change in
valuation
Shareholding
$0.3m per
hectare
"+6.2
(-6.2)"
15% - 29%
2022
Partners Life
NZ Agricultural LPs
(Kiwifruit)
Company Detail
42,466
18,678
Direct
Comparison
Approach
Fair value
$000
Valuation
technique
19,924
Direct
Comparison
Approach
5.20%
2023
NZ Agricultural LPs
(Kiwifruit)
Value of
Kiwifruit land
$1.25m $1.55m per
hectare
69