Napier Port IPO

[winner69]

Good stuff t_j and thanks for sharing

Seems pretty consistent performance eh

[whatsup]

Feels like it's not going great this IPO offer as ASB has been asked to bid and passing the offer to us.

RGR, If that is the case, at what price would you tender for your shares $2.27 --$2.60 is quite a range for a book build ?

[RGR367]

RGR, If that is the case, at what price would you tender for your shares $2.27 --$2.60 is quite a range for a book build ?

Whatsup, I cannot answer you as I don't intend to participate as ports are not my type of investment. Sorry but GL to you and to others participating.

[Ggcc]

I have done some small amount of research and I think I should buy on market as I feel that Napier still needs to prove the expansion will not convert to extra unforeseen problems. I believe the expansion will cost more than they budgeted for, as most things in life things tend to cost more than budgeted. This is only my opinion and will see when the IPO happens.

[percy]

RGR, If that is the case, at what price would you tender for your shares $2.27 --$2.60 is quite a range for a book build ?

The trust I help out with, have tendered for 40,000 at $2.60 with Hobson Wealth.Going at the highest should mean there is no reason we miss out on price.I would expect the book build will come in a lot lower.
The ones I have asked Craigs for an allocation for both the wife and myself,no price has been discussed.

[RGR367]

The trust I help out with, have tendered for 40,000 at $2.60 with Hobson Wealth.Going at the highest should mean there is no reason we miss out on price.I would expect the book build will come in a lot lower.
The ones I have asked Craigs for an allocation for both the wife and myself,no price has been discussed.

Correct as ASB is just asking for the "level of interest expressed in New Zealand dollar terms" and of course your client number. So if they're successful to get some allocation, you'll have shares closest to the total amount of your interest. I'm sure ASB will get some as they're getting paid commission on it.
Again, I'm not expressing interest on it.

[Balance]

RGR, If that is the case, at what price would you tender for your shares $2.27 --$2.60 is quite a range for a book build ?

Have rang up ASB and asked to be included in their book build - good news as far as I am concerned as the final price will be determined by institutions anyway.

Always right to get hold of monopolistic infrastructure assets.

Still have my AIA IPO shares & enjoying fully imputed 22% pa dividend yield on my entry price.

[sb9]

Another opinion piece..

Napier Port IPO — Shallow Waters or Deep Opportunity?

https://www.moneymorning.co.nz/napie...ty/2019/07/30/

[Joshuatree]

Thanks sb9 overpriced is the tenor .
"The IPO itself appears "to me to be a no-bargain. The key offer statistics suggests it will be priced within a P/E range of 22.7—26.0 (based on FY2020). With an implied cash dividend yield of 2.9%—3.3%.
He has a way with words too

"Sardines will appear as caviar."
"Fake boobs may fool a shallow glance."

[percy]

There appears to be two lines of thought.
Those who think they will get an allocation are keen,while those who realise they will not, think it is way overpriced.
No surprises here.