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  1. #16
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    Quote Originally Posted by Anna Naum View Post
    Following a pre-marketing program to brokers and local and international institutional investors, Synlait Milk Limited (Synlait) advises that it has deferred its plans to IPO.

    Synlait received strong support for the IPO from local institutional investors and the Lead Manager but the overall level of support was insufficient to proceed at this time.

    Synlait remains committed to executing its plans and will continue to consider a future IPO and the alternative proposals centered on private capital placements that have been negotiated in parallel.
    A strange rationale for pulling the float!

    "Strong support from local institutional investors and the Lead Manager" would normally be enough to give the green light. Particularly as retail investors could be expected to give such an issue keen consideration, at the very least.

    Would love to see the draft prospectus.


  2. #17
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    Quote Originally Posted by macduffy View Post
    A strange rationale for pulling the float!

    "Strong support from local institutional investors and the Lead Manager" would normally be enough to give the green light. Particularly as retail investors could be expected to give such an issue keen consideration, at the very least.

    Would love to see the draft prospectus.

    Sounds like BS to me,Charlies came out with something similar with $160,000 spent if I remember correctly, on expenses to do with other corporates presumably chasing them for a buyout.YEAH RIGHT!
    Donīt trust directors or management that fluff up the truth.

  3. #18
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    I thought this was underwritten?

  4. #19
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    Quote Originally Posted by Anna Naum View Post
    I thought this was underwritten?
    Nope, looks like it was not.

  5. #20
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    I see that the Herald item says that Synlait's now aborted issue was to list "its production arm" on the NZX.
    I must admit that I hadn't picked up that subtle difference. Shades of Fonterra - type issues here?

    Perhaps they were getting a bit too cute and complicated?


  6. #21
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    As I suspected, the float wasn't going to include the dairy farms.

    Too much scope here for dudding the production arm at the expense of the farming arm. I'm not surprised now at the lack of support.

    http://www.nzherald.co.nz/business/n...ectid=10611475

  7. #22
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    my broker told me it would be years before they paid a dividend, because they wanted to keep building plants.may be we are too dividend driven?

  8. #23
    percy
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    i looked up synlait website and found ruth richardson a director.
    i will not buy shares in a company where she is a director.
    enough said.

  9. #24
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    Chinese spent $82m for a 51% holding in Synlait today - excluding the farms which will be operated by a separate Synlait company. Theres another co we won't be seeing on the NZX for a while.

  10. #25
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    Quote Originally Posted by minimoke View Post
    Chinese spent $82m for a 51% holding in Synlait today - excluding the farms which will be operated by a separate Synlait company. Theres another co we won't be seeing on the NZX for a while.
    Another example of NZers preferring to put their money with finance companies and 5% rental yielding residential properties than real companies producing real products.

  11. #26
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    Quote Originally Posted by minimoke View Post
    Chinese spent $82m for a 51% holding in Synlait today - excluding the farms which will be operated by a separate Synlait company. Theres another co we won't be seeing on the NZX for a while.
    Well its back on:

    http://www.nbr.co.nz/article/bright-...ting-bd-140061

    This is a bumper year for IPO's on the NZX and makes me wonder if things are getting out of control.
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  12. #27
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    Quote Originally Posted by SparkyTheClown View Post
    I agree about the concerns regarding bullishness, but Synlait is one worth reading up on.
    I will put the same spin as I did on one of the proposed tech IPO's"

    'This looks promising'

    And by that I don't mean that I will invest, but that it is great that I will have the opportunity to invest in it. I will research at the time to determine if the business is good (which this does appear to be) and whether it is under/over priced.

    The irony is that while it is great there are lots of IPO's (opportunitites to invest in new businesses), it also signals that we may be heading into a bubble. Its disappointing this didn't list back in 2009 when there were no IPO's.
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  13. #28
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    Quote Originally Posted by SparkyTheClown View Post
    I will be reading the prospectus with interest on this one.
    It MAY be a good exposure to the (dairy) farming sector which despite it being such a large part of the economy, is hard to get an exposure too.
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  14. #29
    percy
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    It has been possible to trade Synlait shares through BDO Christchurch.Very few trades last year,although volume did pick up in October and November last year,when there were trades at $1.00
    Should Ruth Richardson remain chair I will not consider buying.

  15. #30
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    Quote Originally Posted by SparkyTheClown View Post
    She is not Chair, I just read on their website that she is a non-executive independent director. You may be thinking of Jade, the software company, where she is chair.

    http://www.synlait.com/about/key-peo...-of-directors/

    Graeme Milne is Chairman. Here is the propaganda from the Synlait website.
    It is even worse,she is chair of the GOVERNANCE and human resource committee.!!!!!!!!!

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