KMD - Kathmandu

**J R Ewing** · 26-08-2009, 01:09 PM

Originally Posted by winner69

I think you both know what you meant to say but not quite clear

Say EBITDA $60m ... EV on a multiple of 6 is $360m

If as JR assumes debt left in the business is $180m then they could float the equity for $180m (say 180 million shares for a $1) and everyhting would look respectable and attractive

Easy as ... nice round numbers and only 50% debt in the floated as well

But I think they will want a higher valuation of $360m

Yes, that's what I meant to say. My thoughts are that a $60m EBITDA would be a strong result compared to the previous year, and that in a difficult trading environment.

Hard to see too many takers at a multiple of 10 or thereabouts...

**Dr_Who** · 07-09-2009, 10:35 AM

There is an article in the NBR about Goldman Sachs JBWere fund in trouble. Is this the same fund in Kathmandu? I am not a subscriber, so dont have access to the article.

**winner69** · 07-09-2009, 07:05 PM

Think it is about some retirement village outfit they have a large interest in deeply in braech of banking convenants which is affecting the whole fund if they have to pump heaps of cash in

Don't know if it is the same fund which owns Kathmandu

**Anna Naum** · 23-09-2009, 07:59 AM

Papers reporting that it will be floated in next month or so.....but Mr Solly Lew said he had examined the outdoor equipment and clothes retailer Kathmandu, which is pursuing a public float, but had no interest in the group.

guess it will just have to be Mum and Dad who front up, poor people.

**Dr_Who** · 23-09-2009, 08:17 AM

Went down to Nood furnitures cos they have a sale on. Nood is one of JC's new stores. Found a couch that we like, it was 50% off. Ask if they deliver and was gonna put in a buy order until I was told that I have to wait 3-4 months for delivery!!!

I mean WTF? Hello anyone home? How can you make a client wait 3-4 months in todays competitive environment?

The Nood furnitures are very nice. In the Freedom furniture range. Trendy and funky.

**Shashank** · 25-09-2009, 10:00 PM

haha

Just had to check i was on the right forum (asx or nzx).

Regarding the IPO for Kathmandu... hmm quite hard to say but personally for me, i wouldn't go near it. I have only flicked through the first set of opinions people have given out but my usualy 'moto' is, buy shares in company you believe in (any maybe use).

There are few clothings stores which would be hell cheaper than kathmandu

Just look around, warehouse, postie plus etc. all comes to mind ..

CJ · 30-09-2009, 08:48 AM

Originally Posted by Dr_Who

Went down to Nood furnitures cos they have a sale on. Nood is one of JC's new stores.

Like Kathmandu, never buy anything at Nood for full price. Wait a week and it will be 50% off.

they have some nice stuff in their (designer style) but I would be concerned at the quality of it. I have bought cheap Chinese knockoffs of designer furniture and it was a lot more expensive than the cheap knockoffs Nood is selling! (or have they got great purchasing power?)

**Dr_Who** · 08-10-2009, 11:51 AM

Kathmandu Float Expected By Christmas

Thursday, 8 October 2009 - 10:03am
Wellington, Oct 8 NZPA - A float of clothing retailer Kathmandu is reportedly expected before Christmas.

The Independent weekly business newspaper today said it understood Kathmandu's owners, Goldman Sachs JBWere and Australia's Quadrant Private Equity, were likely to sell at least 75 percent of the firm. They were seeking a valuation of about $450 million.

Lead managers of the float -- Goldman Sachs JBWere and Macquarie -- were sounding out investors on demand and pricing in this country and Australia.

At least three-quarters of the shares were likely to be sold in Australia where listed companies typically attracted higher valuations and shares were being offered extensively through retail investment networks, The Independent said.

Kathmandu has 84 stores, of which 45 are in Australia and 32 in this country.

NZPA WGT mjd nb