As a local I get a guaranteed $10k worth (3,846 shares). It will be interesting to see what scaling is applied to the extra $$ that I applied for.
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Taken up some (indirectly) but its with a mindset of somewhere to park some cash and hold longer term with not a lot of conviction or $pine ca t ching thrills.
Although it prob will trade well initially as ASB have also said it was heavily scaled back , sought after.
ASB only got 5% of what they requested btw.
Minimum was 2500 shares I believe (for non local), so if you were with, say ASB (and not a local or employee etc), you would need to have bid for 50,000 shares at $2.60 worth in order to get 2500 shares...
I wish I had known this and I would have added a few 0's to my bid
Shows how desperate the market is for decent listings, or any listings.
Plenty of money sloshing around looking for a home but so few opportunities. Napier ports looks like a setup for a stag on disappointed buyers ramping the SP on IPO. If you can get some early on market, but who’s selling?
This one we can put down to entertainment value, pour a beer, pop some corns and enjoy the show.
Yep i too got nothing from ASB, our Estate though got a reasonable allocation from Craigs.
it was pretty obvious it was going to be a red hot ipo even with those negative postings about it on the other forum. anyway what happened to the other forum?
Im guessing its in trouble after the owner of it may have been masquerading on here as devotee but actually undermining posters and then inviting them over there or something like that.
Thank you Craigs for giving both my wife and myself generous allocations.
Do brokers charge a fee or percentage for the allocations?
No they don't .
Unfortunately I didn't have a relationship with Craig's or the Co managers of the issue so only got the double minimum firm allocation equating to 5000 shares. This was less than 20% of what I was prepared to spend. Depending on how richly priced the shares get on listing I will pick up more.
I have also just received a generous allocation from Craigs too. I will be taking them all.
Given that a lot of punters signed up and got locked into this during a time of more positive market sentiment, and by the time they float sentiment has fallen into the negative, I think many folk could be jumping to get out as soon as these reach the second hand market.
Especially because many punters may be more amateurish due to the way these were advertised via non stock focused channels, and the everyman seems to be reading lots of bad stuff about the share market at the moment.
Any port in storm springs to my mind.Berth your cash here.
To right JT, you can't really beat infrastructure in a downturn. Characteristics such as a huge moat & reliable cash generation due to it being necessary service. Might go up/down a bit, have the odd average year, however, long-term it's a no-brainer. Ideally yield would be better but probably more capital growth in this business than some other infrastructure companies due to potential expansion. It will be a set and forget investment for me. I secured a few, would have liked more. Will buy some more A2 instead, heaps of value there at current price.
I believe most employees bought shares,that will probably have an boost to the bottom line now they have skin in the game.
It is a footnote in the prospectus. It will be NPH (for Napier Port Holdings).
Thanks !
I did read some of the foot notes...obviously not all.
RTM
In terms of investing what is the advantage of diving into Napier shares tomorrow ?
They seem very exposed to logs into China, seems to make up more than half their trade. They do not look particularly cheap and the isolation of the port makes it difficult to diversify much.
why not just wait for the correction, or buy into an existing port instead? Or is it just the case of a shiny new toy? that will be snapped up at any old price.
Just for fun (or a self-purchased chocolate fish) have a punt at Tuesday's closing price for NPH.
My guess is $2.79.
Trucks are lining up still & logs are rolling in.$3.15
Regarding existing forests within the orbit of Napier Port; dips in export prices may see a deferral of harvest but you are unlikely to see a significant volume transferred from export to domestic consumption. The percentage that was going to be exported via Napier is still likely to be exported via Napier but some of it once prices lift. Forest companies can leave trees in the ground to grow longer but for a number of reasons don't like stretching this out too far as beyond a certain age annual increment per hectare per year starts to decline. Secondly forest companies need a certain amount of cash flow and need to maintain a foothold in some markets so will still put some volume in to export markets even when prices are down. Not to mention a desire to keep their best harvesting crews employed and working for the company even when export prices dip. (I was a manager of various Hawkes Bay forests in a former life)
NPH start trading at 11.30 am today.
Price ?..
One part of me wants it to go higher as I got some. And the other part that wants more wants it to drop. In the current low interest rate environment I think it should go higher, even though the projected dividend is not high.
I'm picking $3.12
2.80+ with strong demand
Looking like well over 3.00 too rich for my blood. Chances are they will be available cheaper in October
Grabbed a few at 2.91 will top up at some future point
new s/h have done really well with this listing. might go over 3 today what ya reckon
Profit [not realised] on our NPH allocation,means I will be able to pay Craigs' brokerage for a few years.Thanks Craigs for our generous allocations.
Sellers will probably dry up before buyers so should only go higher from here
seems the doom merchants going on about log slump would affect the port are wrong to date
Dawson told the Herald there had been no drop off in log volumes going through the port and that log traders had reported a bottoming out of prices.
https://www.nzherald.co.nz/business/...ectid=12260085
Well I was fairly close... about 1% off... closing price was $2.95, VWAP was also similar
So 200m shares issued, 90m of them were on offer, and 16.1m of them have changed hands today? Amazing to see 18% of shares sold during the IPO process (and over 8% of the total shares on issue) have changed hands today... that's a pretty high amount isn't it?
I’m from a property background and being able to invest in the IPO today taught me a few things. Shares are a lot more fun!
I was getting my information from the NZX website and from yahoo finance eventually but found ASB Securities the best through the depth tab.
I am very surprised in the lack of financial education in New Zealand, when I mention IPO most peoples eyes glaze over. There is next to no coverage on the news and although these shares were popular New Zealand has so much potential if people invest more in the share market long term instead of those bank term deposits. Just some food for thought, well done to all those who were in today and all the best for holding for the years to come. :)
One of the issues for a start is the tax advantages to investing in rental properties and the perception that housing is "safe," especially among those who hear horror stories of the 1987 crash, etc. I am a firm believer in our taxation settings favouring property investment being a major deterrent to investment in the share market. This in turn robs growing companies of capital and our economy is poorer for it. Yes, some of the very good firms can go overseas for funding/to list publicly but this is not ideal either as the fundraising costs for the firm will be higher and the shareholders benefitting from the company's success are likely to be non-NZers.
Can you explain the tax advantages?
It's part - tax, part gearing. Our bank environment means you can comfortably gear property investments at 60%+ (at very attractive rates relative to other borrowing), and then our tax law means you can offset these interest costs against rental income, which results in minimal if any tax on income (as opposed to company dividends which are taxed at your personal rate)
So while property is inhererently less productive, and has ungeared expected returns of say 6% (2-4% net rental yield after all operational costs, +2-4% capital growth), and shares are more like 8%, after gearing and paying less tax on income you can end up better off
Except for ipo's, the stock market is a second hand market. The companies get nothing for these shares price or trades. Ipo's I've seen seem to get filled with current demand levels. Also, people just chucking their money in the bank or deposits on mortgages enable banks to invest in the stock market. So, aside from people not getting the gains they should from their bank and kiwisaver accounts, I don't think it's too damaging for the economy :)
NPH is trading at $3.08 at present,up 18.46% on its issue price of $2.60.....
A bi off track there. Lewy. For a start, banks don't invest in the stockmarket, their wealth management or Kiwisaver subsidiaries do, on investors' behalf; their nominee subsidiaries might, on customers' behalf.
That what my thoughts on AIA and POT.... overpriced but the price is kept raising up na d up..
NZ log export prices bottom out after slump
https://www.nzherald.co.nz/business/...ectid=12261667
Napier had proposed dividend of 2.9-3.3% dividend planned for 2020 fully imputed, so higher in total, based off a $2.60 price. I am guessing that now almost 22% increase in capital value will decrease the value of your dividend by 22%, down to $2.26-2.57%. POT is 2.87%..... I am only comparing dividend yield until I see how well they stand in their earnings. Well done to holders so far, but there are better shares to purchase at these prices I feel. Of course DYOR
new highs again today
$3.27 is a nice 25% increase.
reckon the trade talks USA/China have a bit of good news left to run, so Im holding out for an even more crazy $3.50 before selling up.
I have vast experience with selling too early and missing out on the big push to the top, so trying to hold out.
NPH trading at $3.37 today,up an incredible 29.61% on issue price.
Mixed feelings, bought half intended amount on first day, was hoping to buy more when the hype died away.
Trouble is it hasn't . So much for buying more in October
Anyone else looking to sell up.? $3.50 this week seems extreme
The question is where are u going to put the money once u sold? With interest rate below 3%... residential houses are all above $100k of council valuation. Other companies are all over valued ...at least NPH is still under 1b cap market n has a lot assets n half own by local government. ...
port of tauranga pe 43 , nph not near that yet. i consider nph has more near term growth than pot
everything honk dory at the port even new highs today
Napier Port - 2019 trade volumes in line with forecasts
https://www.nzx.com/announcements/343139
Log volumes doing very well according to the report from them the other day
Looks like all the gloom about exposurevto logs was not warranted
It has been good to see the short term ceiling has been hit so far. Congratulations to holders so far on a fantastic listing. I do want this share and will look into it as longterm hold, but not at these prices when there is a lot of headwind coming (as in money spent towards expansions). I wait for the future and hope in the short-term to get in around $2.80-$3 as long as the story is a good story. I maybe dreaming of course in some peoples eyes, but then OCA was a steal at $1 and it went back there after a long time.
Contract to Build 6 Wharf Signed
http://www.scoop.co.nz/stories/BU191...arf-signed.htm
https://www.nzx.com/announcements/344465
I remember the days when we were told by some on here that Napier port was an absolute no go as log prices were going to crash the growth story... seems like that didn't eventuate and the results are (literally) a record on many accounts...
Very tidy result. Strong cashflows. Solid long term asset with growth aspirations. No worries re logs, the wall of wood is coming and they have to be cut with only a few years of leeway.
good result and heres novembers log report
Export demand for logs in November rose along with prices
https://www.interest.co.nz/rural-new...w-their-2-year