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https://www.nzherald.co.nz/business/...DECZSCVA2BKHE/
Laybuy shares go into trading halt
The firm, which has its head office on Auckland’s North Shore, listed on the ASX in September 2020 with an initial public offer price of A$1.41.
But its shares have fallen sharply and are worth just A6 cents.
Holy Moly - that's 95.74% of it's IPO offer price evaporated into fresh air in just 2 and 1/3 years 
That's certainly some sort of costly - "Buy Now Pay Later"
Last edited by nztx; 24-01-2023 at 12:03 AM.
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 Originally Posted by nztx
Over $130m of cash losses in that time. What does Gary have to say about this? It seems extremely negligent, and has lost retail investors millions by poor management and trying to grow at all costs. You can't just blame the sector for that kind of cash burn. They raised $40m in cash less than 18 months ago.
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Originally Posted by JeremyALD
Over $130m of cash losses in that time. What does Gary have to say about this? It seems extremely negligent, and has lost retail investors millions by poor management and trying to grow at all costs. You can't just blame the sector for that kind of cash burn. They raised $40m in cash less than 18 months ago.
possible fodder for a class action coming up ?
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Member
Originally Posted by JeremyALD
Over $130m of cash losses in that time. What does Gary have to say about this? It seems extremely negligent, and has lost retail investors millions by poor management and trying to grow at all costs. You can't just blame the sector for that kind of cash burn. They raised $40m in cash less than 18 months ago.
Bit sad really. Prior to LayBuy he was known around the traps as a safe pair of hands and astute businessman. Always telling everyone he majored as an economist, so had a better handle on macro economics which tied in nicely with his retail experiences.
This business has pretty much f**ked that legacy.
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Member
Originally Posted by nztx
Next step .. how about sell the job off to friends & family around a small table at a discount ?
Vendor Finance available on request ..
That's happened before on ASX - the small Sex Toy Retailing outfit that morphed into US Uranium prospector 
ASX: DLC - Delecta from memory it was
You’re prob closer to the truth than you realise. Valuation has crashed under $10 mill now.
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From the same sector - more carnage:
https://www.nzherald.co.nz/business/...FVB46AGB3SNBA/
Buy now, pay later provider Zip’s shares fall amid fears it is in ‘cycle of death’
Zip’s shares tumbled to just 70c on the ASX amid fears it could run out of cash before leaving markets outside of the US and Australia – down from highs of A$12.36 in February 2021. Its shares are down a whopping 79 per cent in 12 months.
It had already haemorrhaged money from its operations in the past financial year with a whopping $1 billion loss, as it announced the closure of its United Kingdom operations.
It also revealed that its outfits in Europe and the Middle East were burning through about $50 million a year.
https://www2.asx.com.au/markets/company/zip
https://hotcopper.com.au/asx/zip/
66.0¢ Change -0.045(6.38%)
Mkt cap ! $505.1M
Looks like still a fair bit more smashing & crashing to go, as still checking in at $500m Cap on the Board
unless someone finds a stash of parachutes and full gas bottles for some upwards thrust
Hope no-one here got badly zipped up on this one ..
Last edited by nztx; 26-01-2023 at 01:18 AM.
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Member
Originally Posted by nztx
Pretty sure Humm bailed out of NZ market too.
Might be a marathon to see who can outlast the competition.
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Originally Posted by Cobber
Pretty sure Humm bailed out of NZ market too.
Might be a marathon to see who can outlast the competition.
could be too ..
Looks like the doors are closed today over the way - Australia Day ?
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Inflation is rampant....due probably to retail spending.
Like isnt the demise the of this entity a good thing....to lower interest rates !
Now nztx being a wordsmith will post something really flashy.
Like he is a guru.
Last edited by troyvdh; 26-01-2023 at 07:56 PM.
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26-01-2023, 08:23 PM
#100
Junior Member
From the ASX announcement which you can read on here:
https://laybuyinvestors.com/investor-centre/
They are hoping for shareholders to vote in favour of delisting from ASX and to list on Catalist.
https://www.catalist.co.nz/
They are saying one of the reasons is they think share price is not reflecting fair value. Also will save money from delisting etc.
I am pretty new to investing, still learning a lot. Have a very small amount on Laybuy shares, lessons learnt haha. But has anyone had experience with investing on Catalist? interested to hear peoples thoughts? The value of shares is very little so going to hold them to see what I learn from following what happens in the process of delisting and relisting. What are the chances of them acheiving fair value through listing on Catalist?
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