Wynyard Group capital raising?

[tosspot]

it annoys me that people like us (public investors) aren't allowed to apply for any. as long as they get there money who cares who holds a small amount of shares

[Banksie]

it annoys me that people like us (public investors) aren't allowed to apply for any. as long as they get there money who cares who holds a small amount of shares

My understanding is that this is available to retail investors. There is an application sheet at the end of the prospectus.

Some info from the application

Applications must be for a minimum of 4,000 Offer Shares and, thereafter, in multiples of 500 Offer Shares.

Your Application Form must be received by 5:00pm Friday 12 July 2013

[Banksie]

My understanding is that this is available to retail investors. There is an application sheet at the end of the prospectus.

Sorry my bad - the application needs a broker's stamp.

[Banksie]

Just checked on ASB Securities - they are offering it to their clients. Nothing on Direct Broking yet.

[Baddarcy]

Just checked on ASB Securities - they are offering it to their clients. Nothing on Direct Broking yet.

I emailed them and got the below standard response, sounds like they may have gotten an allocation from somewhere. Thou if they have doesn't that mean that demand hasn't been that great, if it was, wouldn't the lead broker(s) keep it all for themselves?
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Thank you for your email.

Once we receive the offer document, we will email it to you. We have registered your interest in our system.

Should you have any further queries, please do not hesitate to contact us.

Thank you

Kind regards
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[Baddarcy]

Just checking, was that a reply from DB or ASB? Cheers.

ASB Securities

[glasszon]

Who's keen in this IPO? I wonder what the scaling would be, market seems to love this type of company at the moment.

[CJ]

Who's keen in this IPO? I wonder what the scaling would be, market seems to love this type of company at the moment.

Has anyone read the propectus and got a veiw/questions/anything to share.

I've had a quick look. My main concern is that the "indiciative price range is indicative only" <- seriously, disclaiming a disclaimer.

Their forecast revenue growth while great for the 2013 tapers of to a good 26% in 2014. I am not sure if this is them being conservative but is a bit of a contract to DIL and XRO who dont seem to have hit a limit yet.

Edit: I have just looked at actual numbers (rounded to the nearest m by me) rather than percentages to provide better view:

08A 09A 10A 11A 12A 13F 14F
7m 6m 6m 6m 13m 21m 27m

So while current year revenue growth is expected to be $8m after $6m in the prior year, this drops back to $6m for 2014. It would have been better if they were expecting to maintain at least the $8m revenue growth per year

(from memory DIL has been pretty constant at $7m revenue growth per quarter for the last 5 or so quarters)

[Baddarcy]

Has anyone read the propectus and got a veiw/questions/anything to share.

I've had a quick look. My main concern is that the "indiciative price range is indicative only" <- seriously, disclaiming a disclaimer.

Their forecast revenue growth while great for the 2013 tapers of to a good 26% in 2014. I am not sure if this is them being conservative but is a bit of a contract to DIL and XRO who dont seem to have hit a limit yet.

Yes and it is a fairly broad range too, $1.10 to $1.65 leaves themselves a fair bit of room.

Got the below email from ASB yesterday in response to my interest email

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Good Morning,

Thank you for your expression of interest in the Wynyard Group IPO (the ‘Offer’).

Please find attached the Investment Statement and Prospectus for the Offer. ASB Securities recommends that you do not make any decision regarding the Offer until you have read this document thoroughly.

Wynyard Group owns, develops, markets and sells advanced software products and services that help protect companies and countries from global threats, crime and corruption. The Wynyard Group has four core integrated software products, being: Wynyard Risk Management; Wynyard Intelligence; Wynyard Investigations; Wynyard Digital Forensics.

The Wynyard Group was originally but is no longer part of the Jade group. The steps taken to effect the separation of the Wynyard Group from the Jade group are described in section 12 of the Investment Statement entitled “Statutory Information” under the heading “Other Material Matters”.



Wynyard Group are seeking NZ$60 to NZ$65 million.


Key terms of the offer are as follows:



Offer Document Registered: Friday 06 June 2013
Bookbuild: Tuesday 18 June 2013
Pricing and Allocation: Wednesday 19 June 2013
Opening Date: Monday 24 June 2013
Closing Date: Friday 12 July 2013
Allotment Date: Thursday 18 July 2013
Expected NZX Quotation Date: Friday 19 July 2013
Indicative Price Range: NZ$1.10 to NZ$ 1.65 per share
Minimum application amounts: The minimum application amount under the Offer will be an amount equal to the Price multiplied by 4,000 (i.e. 4,000 Shares). Applications must be in multiples of an amount equal to the Price multiplied by 500 (i.e. 500 Shares) thereafter.
Rating: Not Rated


Purpose of the Offer and Use of Proceeds.

The purpose of the Offer is to pay the purchase price to Jade and other Jade subsidiaries for the purchase of the intellectual property rights in the Wynyard Investigations and the Wynyard Intelligence products and rights under contracts with financial service customers and customer contracts for Wynyard Investigations and Wynyard Intelligence entered into pre-2012 (being $23.6 million).



Also to provide Wynyard with $25.8 million to deliver the growth strategy detailed in section 7 entitled “The Wynyard Group and its Business” under the heading “Growth Strategies” and to fund its general corporate purposes and to raise new capital for the Wynyard Group. In addition, if any oversubscriptions are accepted by Wynyard, these proceeds will provide Wynyard with up to $5 million of additional new capital. For further information on the purpose of the Offer and how the proceeds from the Offer will be used, see section 9 of the Investment Statement entitled “Details of the Offer”).



Full details of the offer are contained in the attached Investment Statement and Prospectus.



Please advise us by reply email no later than 5pm Monday 17th June 2013 if you would like to apply for a binding firm bid. Note that if you make a binding firm bid and it is partially (if subject to scaling) or fully successful, you will be contractually obliged to settle the amount required. Let us know if you have any questions around this.



The application form will need to be completed. However, further application instructions will be provided when results of the binding firm bid are known and communicated to you.



The time frame for the Offer is tight. I would, therefore, appreciate your prompt attention. Should you wish to discuss the offer further, please don’t hesitate to call us on 0800 272 872.



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[glasszon]

Interesting, I only got the generic reply about noting my interest for the IPO from ASB. I assume they will ask people who have an active trading history to bid first and then open it to others who expressed interest only if there's some left?