Is that a work software package?
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27% of the shares went to NZ retail investors
10% to local institutions.
12% went to overseas ones.
The government can't be criticised for selling too many shares to overseas interests at the expense of retail investors. It had no way of knowing the retail interest would be as strong as it has been.
Whiners like you will complain if the issue is popular ("we didn't get enough shares; the government sold it too cheaply") and whinge just as loudly if it is unpopular ("the governement overpriced it; I lost money").
And you can't spell - 'Thats', 'is'nt'
My advice - go back to school, take your profit (if you had the wit to apply for any shares), be grateful for it, vote National, be thankful someone competent is running the country and let them get on with it.
Accept that your circumstances are your doing, and not someone else's fault. Stop whining.
Maybe it's standards of education and reasoning that 'need to be talked about'.
That's a pretty big assumption. Could be a local institution selling with an overseas institution just waiting to snap up more from the local 'flogoff' (a la stag) at still reasonable prices. Who at the moment would know? Cant see the point in getting exercised about something that may not in fact be the case.
Overseas institutions mopped up a lot of MEL and MRP at above issue price shortly after the IPO allowing exit at a profit for those so inclined
some people are going to make a killing on this
I'm still debating over whether to stag straight away, to buy more at the open or to hold???
(I'm one of the public pool investors who got heavily scaled but ended up with about $10k through spreading over different family members).
This will obviously depend on what price it lists at and what price you think the fair value of GNE is.
In my books fair value for GNE is someone between $1.70 - $2.00 so will be looking to buy more if it lists below $1.70, selling around $2.00 and happy to hold between $1.70 - $2.00.
Where did I get $1.70 - $2.00 from? I think the simpliest way to value GNE is by dividend yield, and I believe 11% - 13% gross dividend yield for FY15 is about where it should trade right now.
According to the prospectus the company intends to pay a 16c dividend in FY15 (2 lots of 8c on top of the 6.4c dividend due at the end of this year).
So, 16c / 0.72 / 11% = $2.02 and 16c / 0.72 / 13% = $1.71.
$1.70 also equates to a FY15 PE of about 18x and an EV/EBITDA of about 7x.
$2.00 equates to a FY15 PE of about 21x and an EV/EBITDA of about 8.5x.
What are other people's strategies / values out there?
im going to buy some chelsea buns and make a coffee while i wait for my refund next week, hopefully i dont have to pay your 2 dollars by then if i want more