SML - Synlait Milk Ltd

[CJ]

The uncertainty that will remain is how the market views a "non standard governance" listing.

What? Like Fonterra where you get no votes at all - that was a roaring success!

[1leon]

What? Like Fonterra where you get no votes at all - that was a roaring success!

And no one seemed to quite get to grips with what those are either! Perhaps obscurity is the answer.
Intringingly Fonterra Farmers also seem to have been keen to quit their shareholdings because of high prices. Also interesting to note comment 1 June: Chief executive Theo Spierings said shareholders and Fonterra unit holders should expect the strong lift in international dairy powder prices to create "a more challenging environment" for Fonterra's earnings in the first half of the 2014 financial year to July 31.

[FarmerHamilton]

And no one seemed to quite get to grips with what those are either! Perhaps obscurity is the answer.
Intringingly Fonterra Farmers also seem to have been keen to quit their shareholdings because of high prices. Also interesting to note comment 1 June: Chief executive Theo Spierings said shareholders and Fonterra unit holders should expect the strong lift in international dairy powder prices to create "a more challenging environment" for Fonterra's earnings in the first half of the 2014 financial year to July 31.

D-DAY for SYNLAIT .... IPO price set this a.m.

[GBHcorp]

Set at $2.20

[1leon]

Set at $2.20

Intriquing--near the bottom of the indicative $2.05-$2.65 range. Any indication how many farmers have sold in?

[Xerof]

"The IPO comprises $75 million in new capital to repay debt and fund Synlait Milk’s growth initiatives and a secondary offer of $38.7 million being 17.6 million existing shares originating from participating shareholders of Synlait Limited"

[NZSilver]

Im suprised at 2.20, I was expecting atleast 2.50. Now it will be interesting to see how much scaling occurs.

[CJ]

ASB have just advised they didn't get an allocation. Are any brokers still offering more?

[blah]

Just got this email from ASB Sec - so looks like I won't be getting an allocation:

Dear Client

Synlait Milk Limited

Thank you for your expression of interest in the offer of fully paid ordinary shares (“Shares”) in Synlait Milk Limited.

Unfortunately ASB Securities was unable to secure an allocation of shares in the offer.

We are unable to offer you shares on the primary market through the Initial Public Offer “IPO” period, however can assist with purchasing the shares on the secondary market when they list on NZX main board, expected listing date, 23 July 2013.

Thank you for your continued support and please accept our apologies for not being able to provide you the opportunity to invest in shares in this offer.

Yours sincerely

[randoman]

Does anyone know which brokers got allocations for this? I got an email from ASB saying they didn't get an allocation.