We'll have to wait for the Investment Statement to get a better idea but does anyone else think that this rash of IPO's is starting to sound like a faint warning bell?
http://www.nzherald.co.nz/business/n...ectid=11285704
Printable View
We'll have to wait for the Investment Statement to get a better idea but does anyone else think that this rash of IPO's is starting to sound like a faint warning bell?
http://www.nzherald.co.nz/business/n...ectid=11285704
Where's the growth?
A company in trouble, bought cheap by private equity, financially engineered now to sell into a strong market?
Hopefully they've learnt from the Hirepool debacle and come up with a reasonable offering
The real winners were the owners who got $366m in 2006
Good blokes those guys .....laughed all the way to bank
Just shows you how stupid this years were .....PE paying inflated prices for anything with a cash flow.
Gets a mention in today's Chalkie column.
http://www.stuff.co.nz/business/opin...-conflict-soup
From what I know they must have grown big time in the last 2 to justify a $300m market cap
Also be looking at how much debt gets left behind in the company ($80m odd in last accounts)
Prospectus will be interesting - after the market they are in is booming big time .....Christchurch CBD is going to be full of spanking new buildings endowed with glass
A couple of months ago we broke an upstairs window, and as a frugal one does I duly measured it all up and popped down to smith and smith for a replacement pane. Didn’t even bother with a call out in Christchurch anticipating backlog.
Not really to my surprise I was told that their glaziers were all busy and that I would have to wait three days.
That’s three days for an across the counter sale, wish I had shares in smith and smith I thought.
When I offered, tongue in cheek, to go out the back to cut it myself, the shop assistant looked at me blankly for a few seconds in quiet contemplation but decided rightfully that it was not an option.
Another private equity company bringing a company with a chequered history to the market when the market is currently priced at 22 year high's on a forward PE basis.
Yes this rush of IPO's is strategically timed and NO companies such as this which have cyclical earnings should not command a PE of early teens in anything other than an irrational market.
Hirepool Mk2 anyone ? YAWN...