you should have made more postings in 8 years jay....
Printable View
you should have made more postings in 8 years jay....
I'm not sure why all you posters seem to think it is immoral that the owners of Kathmandu are selling up. They want to sell and presumably someone wants to buy. The buyers had a choice - take it up or leave it alone. Why should they leave something in it ? You know, I sold my home recently. It served me well for 12 years. I put a price on it and someone came along and bought it. I didn't tell them about the magpies that nest just over the back fence and have made my life miserable for years. They can find that out, but in the meantime they may well be enjoying their new home. Bugger leaving money in it. When I went down the drive in the car for the last time I felt the world lift off my shoulders. Do all you people grizzling about this float accept prices below what you can get on the market when you sell things, and then leave a bit in to show some faith ? Bet you don't.
I wouldn't touch this IPO with a barge pole. But then....
Disc: Own part of KAT through Hauraki No.2
Looks like Kiwis dont like it and Aussies do.....
http://www.nzherald.co.nz/business/n...ectid=10608478
Are these the same Aussie investors that put their money in Myers? The tables have turned. Usually, anything IPOs the Aussies dont want we end up with it.
If JC came out to raise funds to compete with Kathmandu and the numbers stack up, I would be interested in putting money with her.
I wonder what the forecast PE would be for Kat if JC's new adventure store starts selling products at half the price?
I think most KAT sales are at 40% or more off, I would be surprised if they sell that much at full price.
Part of the reason the NZ market is so small compared to AU is that AU companies for many years have come to NZ and made takeover offers for NZ companies at multiples that seem crazy to a NZ investor. One of the reasons they can do that is the multiple they are priced at in the Aussie market means the takeover is quickly (if not immediately) earnings accretive to them.
It is possible that a stock can be viewed as expensive by NZ investors and cheap by Aussies or other foreign investors. Thats one of the reasons why companies like Lion Nathan and Nufarm changed domicile....and it is one of the reasons why FBU, NPX and probably others are looking at it now.
More misinformation from Balance
Waddell had nothing to do with any of those IPO's
I repeat: Waddell had nothing to do with those IPO's.
You of all people should know they were organised by McDouall Stuart long before Waddell joined McDouall.