GNE - Genesis Energy

[Harvey Specter]

The entire program was based on the premise to allow 'mum and dad' to invest - this float doesn't really show it.

Agree

Looking back should they completed the public offer first then the balance the remaining shares to institution investors?

No - they should have just subjected them to the same scaling as the retail pool. That might have allowed the scaling to be (say) first $10k plus 50% of everything else.

[skid]

Wonderful.!!!!
Finally get it all sorted? Yeah right!
"Shareholder balance enquiry is currently unavailable".
No surprises there!!

Same with me percy--(good to know its happened to others)

Maybe they are waiting to surprise me with full allotment--(Tui billboard)

[sharp]

Open $1.85
Close $1.78

[Omega]

Omega - you must be right - can you show your workings for $10k? I should have said 2237, not 2239 btw. As below:
Allocated amount in $ = $3217.80 + ($10k -$5k)*0.05 = $3467.78
In shares = 2237 rounding down.

1613 100% = 1613
1613 28.7% = 463
6774 5.0% = 338
10000 = 2414

[mibo]

Omega - you must be right - can you show your workings for $10k? I should have said 2237, not 2239 btw. As below:
Allocated amount in $ = $3217.80 + ($10k -$5k)*0.05 = $3467.78
In shares = 2237 rounding down.

In shares;
2076 +((10,000-3226)x5%) = 2414 shares (rounded down)

[sharp]

This scaling is ludicrous ($5,000 cap!!). I should have bought through my broker - I'm whinging because I am only getting a fraction of the shares I applied for.

[Yossarian]

1613 100% = 1613
1613 28.7% = 463
6774 5.0% = 338
10000 = 2414

Ok thanks, I was working on $10k, not 10k shares... my error as suspected...

[Goldstein]

Sorry - answer to Balance's #605

The answer might be the exact opposite. I.e., for the govt to start spending. However, this only works if you spend money wisely (on future revenue streams). During the great govt jobs summit the only real thing that came up was a cycle way.

You are right about the total debt. But I think also the reliance on dairy must be seen as making the NZ economy somewhat brittle. I don't really have the answers, but most of the exciting R&D in NZ seems to be done in spite of the govt rather than with the govt. There are a few exceptions like the Americas Cup but on the whole the NZ dollar is strong and the tax break for R&D was scrapped under the current govt.

The long term answer I guess is the NZ economy needs to grow. But since dairy has a resource limit we must diversify.

[Scooter]

As a broker, when I send out an email to those on my email list with a reply date to participate in an IPO, the smart ones actually respond with amounts they want, before the date we need to submit our figures. Those that come in after tend to end up well down the list, or miss out altogether, and have to try via the public pool.

[ratkin]

What a waste of time that turned out to be.

When the stock rises , the govt will cliam their privatisations a big success , forgetting to mention that most people ended up with many Mighty river power shares and hardfy any Genesis

Question now is , either try and build a bigger holding , or flick off the small parcel recieved.