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  1. #1
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    Default Barramundi ( BRM )

    I got this email from ASB Securities today.

    Fisher Funds - IPO - Barramundi Ltd

    Fisher Funds Management released an announcement on 15 September that Barramundi Ltd is considering making an offer of 50 million shares to the public at $1.00 per share (one warrant will be attached to every 2 shares issued). Barramundi intends to use the proceeds to become a listed investment company investing in smaller, growing Australian companies.

    The intended offer will comprise firm allocations to brokers, and a priority pool reserved for existing shareholders and warrant holders in Kingfish Limited. The offer is expected to open during October.

    For updates please keep an eye on the Fisher Funds website, www.fisherfunds.co.nz. There is currently no IPO information available, but I would expect this to be updated shortly.

    \"The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.\" - <b>Adam Smith</b> - <i>The Wealth of Nations</i>

    The information you have is not the information you want.
    The information you want is not the information you need.
    The information you need is not the information you can obtain.
    The informaton you can obtain costs more than you want to pay.

  2. #2
    Reincarnated Panthera Snow Leopard's Avatar
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    Default

    You can email (oz@fisherfunds.co.nz) or ring (0508 347437) Fishers to register your interest.

    But don't mention that The Paper Tiger sent you, they won't know what you are talking about.
    om mani peme hum

  3. #3
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    What is it? More details pls.
    This stock shines so bright that it \"Bling Blings\"

  4. #4
    An Awesome Cool Cat winner69's Avatar
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    Default

    Could do OK picking a few good small caps on tne ASX .... plenty of opportunities over there

    Good opportunity to get some exposure to small caps in ASX if you don't want to do your own homework

    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  5. #5
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    Default

    quote:Originally posted by winner69


    Good opportunity to get some exposure to small caps in ASX if you don't want to do your own homework

    I was thinking the same thing.
    \"The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.\" - <b>Adam Smith</b> - <i>The Wealth of Nations</i>

    The information you have is not the information you want.
    The information you want is not the information you need.
    The information you need is not the information you can obtain.
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  6. #6
    Reincarnated Panthera Snow Leopard's Avatar
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    Default

    Prospectus etc now available, talk to your broker
    om mani peme hum

  7. #7
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    Default

    $50 million to invest in Aussie small-caps - now that sounds like the perfect job description! They'd have been off to a good start if they'd had the money last week...

  8. #8
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    Why buy in the IPO though?

    Surely they won't have told anyone (probably don't even know themselves) what stocks they will invest in.

    Are there any reasons why the SP will go up opening day?
    \"The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.\" - <b>Adam Smith</b> - <i>The Wealth of Nations</i>

    The information you have is not the information you want.
    The information you want is not the information you need.
    The information you need is not the information you can obtain.
    The informaton you can obtain costs more than you want to pay.

  9. #9
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    quote:Originally posted by rmbbrave

    Why buy in the IPO though?

    Surely they won't have told anyone (probably don't even know themselves) what stocks they will invest in.

    Are there any reasons why the SP will go up opening day?
    Don't KFL trade at a discount to NTA ? (it used to) no reason for this float to be any different, with possible exception that warrants could make up for difference.

  10. #10
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    SOUNDS like another fish STORY.. [8D]

  11. #11
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    Barramundi IPO raised to $100m

    Saturday September 30, 2006


    Fund manager Fisher Funds will seek to raise up to $100 million in an initial public offering for Barramundi.

    Barramundi aims to provide investors with access to a diversified portfolio of smaller, growing Australian companies.

    Fisher initially planned to raise $50 million from the public, but said demand from sharebrokers had prompted it to raise that level to $65 million, all of which has been allocated.

    Allowance has been made for up to $35 million in oversubscriptions.

    Fisher Funds also manages investment company Kingfish, which focuses on smaller local companies.

    The offer will open on Monday and close on October 20.

    - NZPA

    http://www.nzherald.co.nz/section/st...ectid=10403664
    \"The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.\" - <b>Adam Smith</b> - <i>The Wealth of Nations</i>

    The information you have is not the information you want.
    The information you want is not the information you need.
    The information you need is not the information you can obtain.
    The informaton you can obtain costs more than you want to pay.

  12. #12
    An Awesome Cool Cat winner69's Avatar
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    Wonder what the outperformance management fee is in this one ...... Kingfisher ones a quite high

    Dilutes returns a lot but can't blame carmel and her friends taking as much as she can from willing punters

    Another $100M to manage ..... another few mil to go into the coffers for them .... every year come good or bad

    “In a roaring bull market, knowledge is superfluous and experience is a handicap.”

    –Benjamin Graham”

  13. #13
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    if it was 1:1 for the free options i'd be in with borrowed money, but i think i might just sit this one out.

  14. #14
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    quote:Originally posted by winner69

    Wonder what the outperformance management fee is in this one ...... Kingfisher ones a quite high

    Dilutes returns a lot but can't blame carmel and her friends taking as much as she can from willing punters

    Another $100M to manage ..... another few mil to go into the coffers for them .... every year come good or bad

    quote:
    Management Fee: 1.25% per annum of Gross Asset Value. For any particular financial year, the management fee will be reduced by 0.1% for every 1% underperformance relative to the change in the NZX 90 Day Bank Bill Index (subject to a 0.75% p.a. minimum).

    Incentive Fee: The Manager will be paid 15% of excess returns over and above the Benchmark as a Performance Fee. 50% of the Performance Fee will be used to subscribe for new shares in Barramundi.

    Benchmark: Changes in the NZX 90 Day Bank Bill Index plus 7% pa. For example, the year to 31 August 2006 the benchmark would have been 14.6% (7.6% plus 7%).
    Nice work if you can get it.

    om mani peme hum

  15. #15
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    Zyreon - Isn't it a free warrant for each two shares, like the KFL offer?

    The performance incentive bonus is set quite high, so that shareholders have materially benefited before they earn anything.

    If it's the same structure as Fisher Funds use for KFL, there Management fee is reduced for poor performance, so its quite transparent.

    Like GPG & KFL, if they return well above average returns year in year out, they should be rewarded i personally have no issue with this.

    Disc: Hold KFL & although ASB offered me an allocation, my funds are required elsewhere.

    Will look at in the new year?
    Disc holding - GOR, IGO, ILU, LYC, SES

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