Pumpkin Patch

[TheBossMan]

NZXR
26/04/2004
GENERAL

REL: 1658 HRS New Zealand Exchange Limited

GENERAL: NZXR: Pumpkin Patch Ltd Proceeding with IPO & Listing Application

Pumpkin Patch Limited today announced that it is proceeding with an initial
public offering (IPO) of shares and with an application to list its shares on
the New Zealand Exchange.

Pumpkin Patch is a leading Australasian children's wear design, marketing and
retailing company.

The offer is expected to open on Monday 17 May 2004 and close on Friday 4
June 2004.

Shares are expected to trade on a delayed delivery basis from Wednesday 9
June 2004.

The IPO will involve the offering of approximately $120 million worth of
shares.

Shares in the IPO will be offered through Goldman Sachs JBWere (NZ) Limited
(Lead Manager) and other selected New Zealand Exchange Firms.

Shares will be allocated to New Zealand retail investors and New Zealand and
Australian institutional and professional investors. There will be no public
pool.

The offer price will be determined by way of an institutional bookbuild.
End CA:00099466 For:NZXR Type:GENERAL Time:2004-04-26:16:58:31

[Burgerbun]

Should have backdoored the childcare outfit here

.........?????kiddycorp?

you know, the one with kids running it.


anyway, whats a fair PE for this market?

13-15?

[marinesalvor]

certainly marinesalvoress will want me to be in on this one

[TheBossMan]

quote:Originally posted by cloudnine

Should have backdoored the childcare outfit here

.........?????kiddycorp?

you know, the one with kids running it.


anyway, whats a fair PE for this market?

13-15?

you're right - around 15 is the norm for clothing retail.

[willy_wonker]

Will Pumpkin Patch be another bad float like Pacific Brands (PBG)? Maybe better to buy on listing day where the staggers bail out.

[MeNoBatty]

Who are the sellers?

[clearasmud]

quote:Originally posted by TheBoss

quote:Originally posted by cloudnine

Should have backdoored the childcare outfit here

.........?????kiddycorp?

you know, the one with kids running it.


anyway, whats a fair PE for this market?

13-15?

you're right - around 15 is the norm for clothing retail.

how come pe of hlg is 12;ppg is 10.these are both good co's

[nelehdine]

HLG and PPg are basically domestic retailers .. PP is huge in Aussie and have a decent toehold in UK as well ... probably deserve a premium ... 15 seems a bit rich though , would have thought 12.5-13 would be fairer with a divi yield of 3.5-4.0%

Disc: 2 kids ( 3Yr & 10mths )

[Placebo]

Good local success story, a home-grown industry that started small, established its niche and has a strong brand. Now expanding into pre-teen clothes thru the HBK Girl chain off-loaded by Hallensteins.

If you're into buying good stories this would be one to go for. Their business model seems to be finding favour in 3 markets at the moment.

Interesting that Greg Muir has popped up as executive chairman -- a good key man to have on board.

I don't intend getting in on the IPO but you could do worse... like buying WHS

Actually I think it's unfair they're going public like this, they should go like AMP and demutualise, giving shares out to everyone whose kids' clothes drawers are stuffed full of PP clothes... [] I reckon we've earned it by investing heavily in their early expansion programme over the years...

[nelehdine]

Seem to be plenty of shares up for grabs ... a broker I hardly ever use has guaranteed me $10k worth if I want them after reading the prospectus.