Trade Me (TME)

[Xerof]

The floors all yours Balance - pray, do enlighten us.......

discl: DIL at 20 cents, 85 cents, $1.00
discl: NZ citizen

[percy]

When it comes to valuing IT companies, NZ investors have as much clue as Winston Peters does about the word "No".

Yeah right.!!! Lets all hear Balance's formula !!!!!! lol.

[Balance]

The floors all yours Balance - pray, do enlighten us.......

discl: DIL at 20 cents, 85 cents, $1.00
discl: NZ citizen

When you can figure out DIL and XRO, then you have it sussed.

NZ citizen? Good on you - how about world citizen?

[percy]

When you can figure out DIL and XRO, then you have it sussed.

NZ citizen? Good on you - how about world citizen?

Two out of three gives you 66.66%.You must do better,as you certainly did not have RNS sussed,or are you adding to your losing position.?? Sussed or suckered.?

[nwood]

The Offer is opening soon
We're getting in touch to offer you an opportunity to participate in the Trade Me Group Limited initial public offering ("the Offer"). You have qualified for the Trade Me Eligible Member Offer, which is a priority offer in recognition of your support of Trade Me. This is a bit more serious and legalistic than a lot of our usual communications, and we think you should read it carefully.

Eligible Trade Me Members
Eligible Trade Me Members are either:
Enabled members with a feedback rating of at least 500 as at 28 October 2011; or
Enabled members of the Top Seller Programme as at 28 October 2011; or
Enabled members who have qualified twice for the Top Seller Programme in the period between 28 June 2011 and 28 October 2011.

You can apply soon
You will be able to apply for shares online when the Offer opens, which is expected to be on Thursday, 17 November 2011
You will be provided with details of the Offer website via an email from Trade Me on that day. This email will also include a unique Entitlement Number. You will need this to apply for shares, and only one Application per Eligible Trade Me Member will be accepted. Note too that Applications are not transferable.
The combined prospectus and investment statement (“the Offer Document”) will be available on the Offer website, along with your online Application Form. Please note you will be required to download the Offer Document on the Offer website before you can submit your Application for shares online.

Application amount
The Offer Price is $2.70 per Share.
The minimum Application size for the Trade Me Eligible Member Offer is 750 Shares (NZ$2,025) and thereafter in whole multiples of 200 Shares (NZ$540). Applications from Eligible Trade Me Members may be subject to scaling at the absolute discretion of the Company in consultation with Fairfax Media Limited and the Lead Manager of the Offer.
Applications close Monday, 5 December 2011
Applications must be received by 5.00pm (New Zealand time) on Monday, 5 December 2011.
Before deciding whether or not to apply for shares under the Trade Me Eligible Member Offer, you should read the Offer Document carefully and in its entirety.

You can view the Offer Document now

A dedicated Trade Me microsite has been set up at ipo.trademe.co.nz, and you can download a PDF copy of the Offer Document from there.

More Information
For further information you can contact the Offer Information Line on 0800 990057 (toll free within New Zealand), 1800 868 464 (toll free within Australia), or +61 2 8280 7778 (outside New Zealand and Australia) from 9.00am until 7.00pm (NZDT) Monday to Friday.

Application has been made to NZX to quote the Shares on NZSX and all the requirements relating thereto that can be complied with on or before the date of release of this communication have been duly complied with. However, NZX accepts no responsibility for any statement in this communication. NZX is a registered exchange regulated under the Securities Markets Act 1988.
Yours sincerely,

David Kirk, Chairman
Trade Me Group Ltd

Jon Macdonald, CEO
Trade Me Group Ltd

[Winston001]

What to do, what to do...

Warren Buffet would notice Trademe is a monopoly which is a big tick.

Against that, what are the barriers for a competitor? None. Hmmm not so good. Could Ebay Australia break in? Yes - not easily, not overnight, but Yes.

Is there room for the monopoly to expand? TM already covers most markets apart from groceries and securities. If TM tries to be all things to all people the risk is niche competitors will draw away business.

How big is the market? 4 million people. No more. Most of whom are familiar with TM or have no interest and never will do.

I think Warren would pass this opportunity up.

[Xerof]

Not being a 'global citizen' I couldn't possibly have anything of value to add to assessing the merits of this IPO, as it is after all, an IT IPO, and we NZ investors apparently have no clues, but I too Winston, will be letting this one slip from my grasp.

I do wonder how many of the high volume Trademe traders being offered scrip would take it up - from my very limited interaction with this site (usually monitoring daughters used clothing offerings.....while she swans around buying new.....), most volume traders appear to be businesses, used car salespersons, real estate agents or your regular 'garage sale' trawlers.......not your most obvious captive audience, I wouldn't have thought, but there again, Warren and I will stand corrected by global citizens from [insert country of choice] or the likes

Still awaiting enlightenment from our global brucealmighty

[janner]

The only thing missing from Chairman David Kirks offering mail .. !!

" Wait there is more " .. !!..

Over hyped in my opinion..

[QOH]

I can't see any room for growth with TM. Personally I'm finding it harder to sell things on there now, what with the way they keep increasing the fees, and now the huge changes to NZ post system, it hardly seems worth the effort.

[Major von Tempsky]

Well I dunno - according to The Press this morning people and institutions buying into Trade Me at $2.70 can expect a yield of 5.1%.

That is, about half Telecom's yield!

And some people maintain the market is "rational"?

Never has Warren Buffett's words of wisdom been so aptly illustrated that he avoids floats as they are a device to unload shares from which existing owners have taken all the profit and which approach stagnation or decline onto eager ignorant suckers egged on by the news media.