Tegel IPO

[janner]

You truly have the heart of a Banker perc..

I regularly eat their chicken, and love their turkey at Xmas.
I also pig out on pork,enjoy lamb ,but don't get enough steak.

[Hectorplains]

Anyone a client of Chris Lee and able to offer a precis of their opinion on this listing?

[percy]

Decide to put my hand up for the Tegel IPO today.
Had to give Craigs a $ amount.

[Hectorplains]

Decide to put my hand up for the Tegel IPO today.
Had to give Craigs a $ amount.

Yeah, me too. I have reservations but the yield and having Affinity tied in swayed me.

[winner69]

Markets in a good mood so demand will be high i reckon

Don’t like this not knowing what price will be, esp as indicative range is pretty wide.

But has Mr Munger said recently the stock market is just a casino for punters to get rich quickly ...so les put a few bucks on Tegel and hope.

Mr Mungers thoughts -


“There’s way, way too much of that in America. And too much of the new wealth has gone to people who either own a casino or are playing in a casino. And I don’t think the exaltation of that group has been good for life generally, and I am to some extent a member of that group.

“I’m always afraid I’ll be a terrible example for the youth who want to make a lot of money with and not do much for anybody else and who just want to be shrewd about buying little pieces of paper. Even if you do that very honestly, I don’t consider it much of a life. Just being shrewd about buying little pieces of paper, shrewder than other people, is not an adequate life. It’s not a good example for other people.”

[babymonster]

yes, agree, seems to me the demand is high.. so the ipo price will be high... or overvalued???

[percy]

Markets in a good mood so demand will be high i reckon

Don’t like this not knowing what price will be, esp as indicative range is pretty wide.

But has Mr Munger said recently the stock market is just a casino for punters to get rich quickly ...so les put a few bucks on Tegel and hope.

Mr Mungers thoughts -


“There’s way, way too much of that in America. And too much of the new wealth has gone to people who either own a casino or are playing in a casino. And I don’t think the exaltation of that group has been good for life generally, and I am to some extent a member of that group.

“I’m always afraid I’ll be a terrible example for the youth who want to make a lot of money with and not do much for anybody else and who just want to be shrewd about buying little pieces of paper. Even if you do that very honestly, I don’t consider it much of a life. Just being shrewd about buying little pieces of paper, shrewder than other people, is not an adequate life. It’s not a good example for other people.”

I think Mr Munger makes a very good point.
Maybe it is one of the reasons I still enjoy my bookselling business.You have to work very hard to make a very modest profit.
Makes me appreciate the more than modest profits I make buying "little bits of paper, " although I very much realise that those "little bits of paper," are part ownership in some very well run businesses.

[babymonster]

just talked to my broker, i have to confirm my investment before know what the ipo price is and i might not get that if the ipo was oversubscribed... Gee.. is it really that much demand? i don't think 2.55 is a fair price for this ipo.. Errr. too hard... a bit too risky ..

[Beagle]

just talked to my broker, i have to confirm my investment before know what the ipo price is and i might not get that if the ipo was oversubscribed... Gee.. is it really that much demand? i don't think 2.55 is a fair price for this ipo.. Errr. too hard... a bit too risky ..

Taking your comment at face value I find this sort of thing all back to front and ethically unacceptable. Why should investors be required to place a firm order without knowing the price ? Even if they place a firm order it might not eventuate. This way of floating a new company really sucks compared to how it used to be done. Its all geared to maximise the price for the promoters.

Interesting anecdotal story. My daughters boyfriend, I'll call him Ken to protect his identity used to drive trucks for Tegal. Very tough crowd to work for and they REALLY thrash their drivers. I was in the hospital the day our daughter gave birth to her daughter and Ken was there. It was a difficult birth and our daughter was absolutely knackered and Ken had been previously told he was entitled to 14 days paternity leave which I thought was very reasonable of them. But then what would you know, his mobile phone goes and the area controller was doing a really big emotional job on him saying that they had so many drivers away sick that they desperately needed him back that day ! It was the second time he'd pestered him that same day ! Ken phoned his father who is a line haul driver for Toll to get his advice. His father apparently told him that Tegal have a real reputation for working their drivers into a state of burnout and he told him to tell Tegal, your driver problem isn't my problem.

Things between Ken and the area controller went from bad to worse when he did come back a few days later, (well before he should have), with the paternity leave entitlement. Anyway that's the story I got. If that's how they treat their drivers I wonder how they treat their chickens ?

In terms of a new float generally, tell me the price and I'll tell you if I want some. If its any other scheme of arrangement the promoters can go fish as far as I'm concerned.

[Leftfield]

Taking your comment at face value I find this sort of thing all back to front and ethically unacceptable. Why should investors be required to place a firm order without knowing the price ? Even if they place a firm order it might not eventuate. This way of floating a new company really sucks compared to how it used to be done. Its all geared to maximise the price for the promoters.... In terms of a new float generally, tell me the price and I'll tell you if I want some.

Totally agree, I'm happy to sit on the side lines with this one. Good luck to those who buy in......