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  1. #1
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    Default Wynyard Group capital raising?

    Another potential IPO...

    http://www.nzherald.co.nz/business/n...ectid=10881694

    I don't know any more about this company than I've read this morning in the article above but I thought I'd share for the forum to discuss / contribute to / debate.

    QUOTE FROM ARTICLE

    A further potential move away from Jade would be a Wynyard stock market listing. Richardson won't comment on this but confirms the board is considering capital-raising options with a decision expected in the next three to six months.
    "We are growing quickly in the US and Middle East and at some stage we will need more capital if we want to continue exporting to these markets," he says.

  2. #2
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    It sounds like it is a former business unit of Jade. Separated out as part of a management buyout???

    The question for me would be why didn't Jade retain it?
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    Quote Originally Posted by CJ View Post
    The question for me would be why didn't Jade retain it?
    "Wynyard is majority-owned by Skipton Building Society, which also has a majority shareholding in Jade." - I think they are just separating the Jade product from the Wynyard product. Given the sensitive nature of the work that Wynyard does this is probably a good thing.

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    Just had a quick look and the top shareholdings are near identical so maybe they are just gonig for structural separation. If an IPO does come, it will be interesting to see if existing shareholders buy, sell or just get diluted by the new equity.

    400 customers, of which some a huge corproates or Governments - looks like an interesting company. I wonder if it is profitable - is it a DIL?
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    I suspect this company will be more of a DIL than a XRO. They offer a niche product targeted at large clients and there doesn't seem to be much competition in their field. If their leadership team is good then I think this would be a solid investment.

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    Quote Originally Posted by Banksie View Post
    I suspect this company will be more of a DIL than a XRO. They offer a niche product targeted at large clients and there doesn't seem to be much competition in their field. If their leadership team is good then I think this would be a solid investment.
    having looked at 1 article and the front page of their website, I tend to agree.

    Lets hope they do decide to put this on the NZX and we can do a more detailed review of the prospectus.
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    Just got a question for the forum - I see we can only purchase shares in this IPO through one of two brokers managing the IPO. However I currently use the do-it-yourself ANZ online service. If I approach one of the brokers managing this IPO and want to purchase shares, do I have to hand over the rest of my portfolio to them as well? Or will I just be able to purchase some of the Wynard shares through them, pay the necessary brokerage fee, and I keep the rest of my portfolio seperate? Also, what are the chances even of me being able to buy some given I'll be a small fish as a new customer to a broker?
    Thanks in advance for your insights.

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    Quote Originally Posted by SparkyTheClown View Post
    Slam Dunk - I'm not sure, but this illustrates the reason why its useful to have a relationship outside of a discount online brokerage firm.
    For those with a big portfolio, this is possible, but for those with a small portfolio, how can we have a relationship with all brokers to ensure we get access. And even then small investors are more likely to miss out even if you are with the right brokerage.
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    Quote Originally Posted by SparkyTheClown View Post
    Slam Dunk - I'm not sure, but this illustrates the reason why its useful to have a relationship outside of a discount online brokerage firm.

    You may need to email the ANZ folks to see if they can apply on your behalf, or if they can simply get the shares transferred over to you after they list.
    Thanks Sparky. I spoke to the ANZ folks and they can't apply on my behalf. They've said I'll have to approach one of the lead brokers. So I'll give Forbar a call and ask the question, but I don't fancy my luck given how small this listing is.

    Cheers

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    Isn't UBS the lead broker on this one?

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    Quote Originally Posted by turmeric View Post
    The way I understand it mate, when we are talking NZ stocks, is that the brokering firm whether it be a DIY online broker like Direct Broking or one of the big brokering houses, only facilitates trades, they do not hold your portfolio. Your actual holdings are with a share registry which in NZ is either computershare or link market services. No matter who brokers your trades your holdings end up with with one of the registries. Therefore in answer to your first question, no, you will not have to hand over your portfolio if you decide to use one of the brokers to get involved in an IPO. Hopefully someone will correct me if I have gotten this wrong though.

    In terms of being a small player trying to participate in an IPO, it seems to depend on how big an allocation a broker has. My understanding is they will look after their bigger clients first. E.g. for the SLI IPO I talked to Craigs who I use occasionally and they said "The float has been oversubscribed and I only have stock available for my managed portfolio clients. Even then it’s very limited. You will need to access it via the secondary market on listing. " I'm not sure what the deal is with Wynard, sounded like there wasn't going to be easy for a small player to get involved in though. Best thing would be to give one of them a call and see.
    Thanks Tumeric! Appreciate the time you and Sparky have taken to reply. My understanding is that Forsyth Bar and First NZ Capital are the lead brokers on this so I'll call them tomorrow and, assuming I get hold of someone, will report back.

    cheers

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    Quote Originally Posted by CJ View Post
    Isn't UBS the lead broker on this one?
    Sorry CJ, after re-reading the nbr article I see you're right - UBS is the lead broker.

    That's funny though because the guy I spoke to at ANZ today thought Forsyth Barr and First NZ Capital were.

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