Derek Handley is to list Snakk on the NZAX: http://www.nbr.co.nz/article/ex-hype...tart-dw-132030
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Derek Handley is to list Snakk on the NZAX: http://www.nbr.co.nz/article/ex-hype...tart-dw-132030
I don't, IPO's are a mugs game. Sparky is right - there are early signs of the mugs returning to the markets.
So are you saying that raising capital via equity markets is a bad thing?
Nz needs more listings. It is fantastic that companies can now use the nzx to raise capital. I don't know if you had noticed, but the nz market has been dying slow death.
I agree, there are mugs returning to the markets. But it is not just in ipos. I have been trading on nzx for 13 years. Never before have i seen such an expensive market.
Even when profits have underwheled, the market does not punish. Think skellerup, michael hill.
More than ever, it is a time to take quick profits and not be too exposed to the markets. Perhaps we could encourage brokers to allow shorting?
hmm interesting they are willing to take the $$ from here but state no staff will be employed here , or was it no sales staff , either or , I found that quite an interesting comment to be made openly.
Noodles i notice your comment that you have never seen such an expensive market,well you should have been around in the 1980s that was an expensive market totally over inflated. For example i bought a hand full of Robert Jones Inv shares in around 1982 before the bull run which cost me around $1500 and with a few share splits and bonus issues along the way i sold them for 75k and i can remember they went up $1 on just one days trading, that was just one stock a lot others were just as hyped but then we all know what happened in October 1987. I also have shares in Snakk.
Sparky yes acquired them via SeaDragon.
Speaking of possible new NZX listings, here's Brian Gaynor's article on IPO prospects for 2013.
Some cautionary reminders from the 1980's included!
http://www.nzherald.co.nz/business/n...ectid=10860095