JWI - Just Living Group (Just Water International)

[JAMP]

Curious as to whether anyone is in the know with respect how their recently closed IPO went? I was tempted to sign up but of late I have become somewhat hesitant about chasing IPO's. I rationalised that there shouldn't be too much risk involved with me waiting until it is a fledgling on the NZAX.

I guess all will be revealed come June 15.

Regards JAMP
NZX: MCH MFT RBD SAN SKX SPN VTX WRI
UCM: KCE

[Lawso]

Had a look at it, checked the prospectus, decided No - on gut feel rather than analysis.

[JAMP]

Thanks for your views Lawso

I too passed the IPO by on gut feel, admittedly more about the IPO process for me than the company. I felt quite comfortable with the information provided in the prospectus. I found that generally it made for plain simple reading.

With the exception of a short blurb from the NZX in one of their press releases, I have yet to see any bleating from the mountain-tops about how successful the IPO was. I guess it is just a matter of waiting to see how they come out of the blocks on 15Jun04 and taking it from there.

Regards JAMP
NZX: MCH MFT RBD SAN SKX SPN VTX WRI
UCM: KCE

[foodee]

First IPO for me in a loong time.
2 main points attracted me [1]only 8% of businesses have this facility - hence potential growth is significant and [2] vendor holding all their shares at this stage apart from the 1 million dollar worth given to Onehunga Business school.
Waiting with interest and looking to top up.[]

[willy_wonker]

Does this company make a profit, if so what is the profit or forecast?

Just wondering if it is going to be like FTB?

[JAMP]

I am not particularly au fait with Tony Falkenstein, but it would certainly seem like he has some scruples. Good publicity for JWI too.

Willy, a quick trip to their website will help you track down their prospectus. That should show a history of profitability as well as their expectations to 30Jun04. From memory they are talking a div yield around 8.4%.

JWI aren't going to have very many shares in free-float. This and the fact that they will get little market exposure (being NZAX listed) means it is possible that their shareprice will exhibit volatile tendencies off a low trading volume. It is unlikely that they will appeal as a stock to many.

Please also take into account that I am a little fish who prefers to swim well away from the big fish. I also like my water to be nice and fresh

Regards JAMP
NZX: MCH MFT RBD SAN SKX SPN VTX WRI
UCM: KCE

[willy_wonker]

Jamp,

Without readin the entire prospectus, can you just give me the following highlights?

1. What is the money raised use for?
2. P/E?
3. Debt?
4. How much is the promoters keeping for themselves?

thanks

[craic]

Just listening to talkback half an hour ago involving people ringing in to offer acolades to those who turned the callers lives around etc. Tony Falkenstein was mentioned by one caller as a man who gave one million dollars to the business school but [u]also</u>gave one million dollars in shares to his old school and one million in shares to Auckland? university business school. Never heard of him before that.

[JAMP]

Crikey Willy, I had to scan through the prospectus for the answers to those questions!

1) The money raised (circa $8.25m) was being used to pursue growth opportunities as well as retire some term debt ($5.4m) that was taken on to acquire Aqua-Cool Limited ($6m).

2) Projected PE is 15 based on the offer price of 50cps. Had acquisitions been on books at 01Jul03, projected pro-forma PE is 12.

3) As I read it, term debt at30Jun04 is projected to be $1.7m with current liabilities of $0.8m.

4) The previous stakeholders are keeping roughly 75% of the company. Probably a little under now that they have donated 3m shares.

Of course, don't take my reading of the prospectus for granted. It is, as I have already mentioned, plain and simple to understand.

Regards JAMP
NZX: MCH MFT RBD SAN SKX SPN VTX WRI
UCM: KCE

[tf]

Many times over subscribed. No advertising needed to attract shareholders, and no reason for them to shout from the rooftops.

quote:Originally posted by JAMP

Curious as to whether anyone is in the know with respect how their recently closed IPO went? I was tempted to sign up but of late I have become somewhat hesitant about chasing IPO's. I rationalised that there shouldn't be too much risk involved with me waiting until it is a fledgling on the NZAX.

I guess all will be revealed come June 15.

Regards JAMP
NZX: MCH MFT RBD SAN SKX SPN VTX WRI
UCM: KCE