Grabbed a few at 2.91 will top up at some future point
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Grabbed a few at 2.91 will top up at some future point
new s/h have done really well with this listing. might go over 3 today what ya reckon
Profit [not realised] on our NPH allocation,means I will be able to pay Craigs' brokerage for a few years.Thanks Craigs for our generous allocations.
Sellers will probably dry up before buyers so should only go higher from here
seems the doom merchants going on about log slump would affect the port are wrong to date
Dawson told the Herald there had been no drop off in log volumes going through the port and that log traders had reported a bottoming out of prices.
https://www.nzherald.co.nz/business/...ectid=12260085
Well I was fairly close... about 1% off... closing price was $2.95, VWAP was also similar
So 200m shares issued, 90m of them were on offer, and 16.1m of them have changed hands today? Amazing to see 18% of shares sold during the IPO process (and over 8% of the total shares on issue) have changed hands today... that's a pretty high amount isn't it?
I’m from a property background and being able to invest in the IPO today taught me a few things. Shares are a lot more fun!
I was getting my information from the NZX website and from yahoo finance eventually but found ASB Securities the best through the depth tab.
I am very surprised in the lack of financial education in New Zealand, when I mention IPO most peoples eyes glaze over. There is next to no coverage on the news and although these shares were popular New Zealand has so much potential if people invest more in the share market long term instead of those bank term deposits. Just some food for thought, well done to all those who were in today and all the best for holding for the years to come. :)
One of the issues for a start is the tax advantages to investing in rental properties and the perception that housing is "safe," especially among those who hear horror stories of the 1987 crash, etc. I am a firm believer in our taxation settings favouring property investment being a major deterrent to investment in the share market. This in turn robs growing companies of capital and our economy is poorer for it. Yes, some of the very good firms can go overseas for funding/to list publicly but this is not ideal either as the fundraising costs for the firm will be higher and the shareholders benefitting from the company's success are likely to be non-NZers.
Can you explain the tax advantages?
It's part - tax, part gearing. Our bank environment means you can comfortably gear property investments at 60%+ (at very attractive rates relative to other borrowing), and then our tax law means you can offset these interest costs against rental income, which results in minimal if any tax on income (as opposed to company dividends which are taxed at your personal rate)
So while property is inhererently less productive, and has ungeared expected returns of say 6% (2-4% net rental yield after all operational costs, +2-4% capital growth), and shares are more like 8%, after gearing and paying less tax on income you can end up better off