Vector Limited (VCT)

CJ · 24-05-2005, 01:48 AM

Just a couple of questions:

Has it actually been said that NGC holders are getting an allocation if they sell their shares?

Can you get a pre-register applciation from anywhere or are thy just being posted out. I am trying to locate someone in Auckland to sign on my behalf but fear they might have "filed" the form into the round file already.

Can anyone remember what the allocations were for other high profile IPO's ie AIA, capital properties also restricted didn't they.

What is going to happen post float. there will be a huge demand but assuming they restrict sufficently there will be a huge undersupply - only bond holders will get the amount they want (ie.1/2 there bond amount). Assume all insto will want them and index funds etc etc but no sales, how high can this push short term price before they say it is just to expenseive to buy. Has anyone ever seen a similar situation with no public and insto pool?

CJ

**madmike** · 24-05-2005, 08:56 AM

quote:Originally posted by Dazza

quote:Originally posted by PointyHat

I bought 20,000 bonds for the 95% IPO share cost, then was disappointed to find they were not going to IPO, so I sold them.[:I]
Like some of you Vector users I put down $20,000 as an indication of my interest in the offer form as an account holder. I wish I had put more now.
My guess is that $500 worth is your lot no matter what your interest, the rest will go to the big boys who are ABN clients.
I do hope I'm wrong.I could do with a good piece of this action.

WHAT 500 BUCKS WORTH!!!
i doubt it? selling it will cost 30 bucks... thats a good 6% of the trade?

surely we could milk out 2k each?

has anyone done the maths?

whats left over afta the bonds/ngc are taken into account for us akl consumers and the instos?

cnz ipo was scaled to $500...this ipo will be more popular therefore $500 seems all you can expect to get....think cen was the same but i got "3 friends" to apply so got my $2000 worth

**Snow Leopard** · 24-05-2005, 09:05 AM

Does anyone know
1) How many $ worth of vector bonds there are?
2) How many AECT beneficiaries there are?

thanks
Paper Tiger

**wsheridan** · 24-05-2005, 09:14 AM

quote:Originally posted by Paper Tiger

Does anyone know
1) How many $ worth of vector bonds there are?
2) How many AECT beneficiaries there are?

thanks
Paper Tiger

I believe $307 million in bonds and 290,000 beneficiaries

**Snow Leopard** · 24-05-2005, 09:30 AM

Well done

So bondholders max IPO stake is $153.5m
If the IPO is worth $600m (low end of any value I have seen) then if the beneficiaries have first dibs on the rest the average is
(600m-153.5m)/290k = $1,540 each.
Of course not every benny will take up their entitlement, so I guess there will be reasonable amounts for those who want it.

Or am I missing something?

**rmbbrave** · 24-05-2005, 11:15 AM

I had my Dad apply for $42,500 worth but I told him we'd be lucky to get $5,000. If about a third of Vector customers take up their rights then each should get about $5,000.

**Snow Leopard** · 24-05-2005, 11:26 AM

So who are the beneficiaries?
Many of them will have no interest in shares unless the press starts raving about this IPO or the market going up.
Many will not have the money to buy any.
Some will buy some shares but maybe the $500 or or really go for it and apply for $1000.
I think they could be plenty of room for big spenders like you father.

**Sky Tower** · 24-05-2005, 01:29 PM

quote:Originally posted by Paper Tiger

So who are the beneficiaries?

Goodness me. The beneficiaries are every power consumer in Vector's original area which includes Central Auckland, South Auckland and parts of Papakura etc. It does not include old United Networks customers in West Auckland and the North Shore. The AECT beneficiaries are only in the original Vector area.

This IPO will be massively scaled backed. I think you will find only the very best clients of ABN Amro will be an allocation - and a very small one at that!