My broker has plenty
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My broker has plenty
My broker is a provincial........there's only one postal delivery a week to the big smoke:D
Craigs, said theres some there if i wanted any.
All sell orders will be in now from existing shareholders , the size of the IPO will now be known. Book build participants to do their stuff on Monday and Tuesday and we will know the exit & entry price for the IPO probably Wed morning.
Markets have been kind this week thanks to ECB & BoE ... my guess is somewhere in the $2.45-$2.55 area.
Searching the web to see if any info on size of issue has been published. Synlait Ltd sell orders were due in 5pm last Friday so bookbuild participants currently jockeying for shares will know how big the IPO will be $110m ? , $120m ? .... $130m ?
Anyone heard ?
My broker access indication is that they are not participating on basis that in light of recent IPOs both they and clients would be safer to buy on market. This listing seems more blind than anything to date---non standard governance and unknown quantity of shares available. How does book build ascribe a value to those uncertainties?
Ive a friend in China overseeing 400 workers building a drying plant. He's worked all over the world and says he has never seen so many luxury cars. also says Synlait is being scrutinized by chinese govt for selling some of its products as kiwi made when they are actually rebranding someone else's. Govt also investigating price fixing by suppliers into china "Its very expensive here in in supermarket. Its a goldrush of sorts in China"(infant formula).
The uncertainty that will remain is how the market views a "non standard governance" listing. It really belongs on "Unlisted"! No matter how they spin it Bright has practical and legal control with a minority holding.And notwithstanding Bright's expressed optimism for the Company they were not prepared to protect their majority by further investment. Is future development also to fall on other shareholders?