Moa

[CJ]

New IPO pre Christmas 2012: https://www.ownabrewery.co.nz/

From the guys that bought you 42 Below, they now bring you a brewery.

http://www.nbr.co.nz/article/boutique-brewer-moa-15m-pre-christmas-ipo-bd-129887

Will be interesting to see the financials and how much of the company they are giving away.

Also rumour that their are another 2 looking to IPO pre Christmas - any ideas who??

[Balance]

New IPO pre Christmas 2012: https://www.ownabrewery.co.nz/

From the guys that bought you 42 Below, they now bring you a brewery.

[url]http://www.nbr.co.nz/article/boutique-brewer-moa-15m-pre-christmas-ipo-bd-129887[/

Will be interesting to see the financials and how much of the company they are giving away.

Also rumour that their are another 2 looking to IPO pre Christmas - any ideas who??

Follow the pipe-piper but make sure you get out before the music stops or just before the cliff.

[CJ]

Follow the pipe-piper but make sure you get out before the music stops or just before the cliff.Not sure that is the right strategy.

If 42 below is anything to go by, best to wait on the sides till it bottoms out, then buy in with the hope a takeover offer comes along. A trade exit is no doubt the strategy.

A takeover will only happen if volumes keep increasing so that is the key metric to watch (ie. sales) , not profit, or COGS.

[CJ]

I think I'd rather buy a lot of their beer than buy into their company for now. I will be wary but interested in their business figures when they issue a prospectus. Still, great to see companies look to list on the NZX.Agree with all comments. Depending on how you value enjoyment, the return on buying the product will probably be greater. I am more interesting in the comment there are two others looking to IPO.

[janner]

" I am more interesting in the comment there are two others looking to IPO. "

Is this for the DYOR on product CJ ??.

[winner69]

Flush with success from LWB will give this go .....being set up for another lion takeover once share threshhold reached

Pity I not too keen on the stuff .....the load stuff that is

[Joshuatree]

42 below was a great story but management and major shareholders made all the dough with all the options and re 3c shares they issued themselves.Barely got my money back after holding thru.I dont trust them.

[janner]

Thank you Joshuatree.. I have always had something un-explainable niggling me about them.. Still does..

[GTM 3442]

I can't see a sensible reason to buy in.

Both the "Big Two" have their own in-house craft/premium range (Monteiths & Macs) so why would they want to step in later and cannibalize their own brands ? That seems to rule out a "local" version of the 42 Below story.

It's hard to see where the growth can come from - many retail outlets seem dependent on the majors for equipment, and may be unwilling to jeopardize that relationship. This seems to rule out growing to a size where an off-shore buyer may emerge.

Part of the "craft" beer thing is it's (small) size.

I don't think that there's an export market either - part of the "craft" beer thing is that it's local.

So we seem to have a small brewery, which will remain small, competing on the NZ market. Making a profit, I don't doubt, and paying a dividend, I don't doubt.

But I can't see it turning into an international success story.

Waiting for the numbers. . . . .

[winner69]

I can't see a sensible reason to buy in.

Both the "Big Two" have their own in-house craft/premium range (Monteiths & Macs) so why would they want to step in later and cannibalize their own brands ? That seems to rule out a "local" version of the 42 Below story.

It's hard to see where the growth can come from - many retail outlets seem dependent on the majors for equipment, and may be unwilling to jeopardize that relationship. This seems to rule out growing to a size where an off-shore buyer may emerge.

Part of the "craft" beer thing is it's (small) size.

I don't think that there's an export market either - part of the "craft" beer thing is that it's local.

So we seem to have a small brewery, which will remain small, competing on the NZ market. Making a profit, I don't doubt, and paying a dividend, I don't doubt.

But I can't see it turning into an international success story.

Waiting for the numbers. . . . .

How did Macs start?

[GTM 3442]

How did Macs start?

In a deserted cider factory in Nelson, and built their business on the fact that they weren't Lion or DB. They took advantage of a deep groundswell of antipathy to a duopoly - and, happily, that situation no longer exists.

Plenty of competition for the big two these days.

And all the more for Moa.

[Balance]

I think we should also say this:

it would be arguably a lot easier for Geoff Ross and his colleagues to simply find a penny dreadful that he could reverse list onto the NZX with.

However, he isn't interested in this (so far). He wants to issue a prospectus, get support from the public, and have a proper listing rather than a back door one.

This should be congratulated. It is good for New Zealand to have true entrepeneurial spirit that follows proper process and expands our capital market listings instead of inheriting a shell that isn't transparent to the public.

Agreed 100%.

Backdoor listings are for those who cannot stand the light of transparency and disclosure.

[waikare]

42 below was a great story but management and major shareholders made all the dough with all the options and re 3c shares they issued themselves.Barely got my money back after holding thru.I dont trust them.

It appears to be much the same with Ecoya, it's all about me Geoff Ross, having said that I would be one of the first to acknowledge "lets give it a go"

[elZorro]

I wasn't at all interested in the candle business either. Where is the edge? You could say the same for beer, except we all? have favourite beers. Anyone who has tried home brew knows it's sometimes hit and miss, but it is a low cost product that sells for a good margin. (Bars sell at an extra 100% margin, that's why happy hour is 50% off).

Mr Ross is not helping to list this, to allow all NZers access to a get-rich-quick scheme. They need cheap capital, and it's risky. As others have pointed out, it's not a backdoor listing though. It just doesn't pass my high-tech test (high value, big employer, long-term benefits).