Intueri Education IPO

[SimonHouse]

What a tragedy for that persons family. This is also really bad timing for Intueri. I wouldn't want to be one of their underwriters right now

[Harvey Specter]

Intueri to list at $2.35, the lower end of its range, as Arowana holds onto maximum amount (24.9%)

http://www.sharechat.co.nz/article/0...maximum-amount

[noodles]

Intueri to list at $2.35, the lower end of its range, as Arowana holds onto maximum amount (24.9%)


http://www.sharechat.co.nz/article/0...maximum-amount

So it looks like demand is a bit light as the price is at the lower end of the range and AWN is holding their maximum.

I've decided this is not a stag for me.

I may look for an entry post-listing if the company progresses as promised with a view to hold long-term.

Anybody taking the plunge?

[NZSilver]

So it looks like demand is a bit light as the price is at the lower end of the range and AWN is holding their maximum.

I've decided this is not a stag for me.

I may look for an entry post-listing if the company progresses as promised with a view to hold long-term.

Anybody taking the plunge?

Hi noodles - I called a guy running the offer at macquarie and it didnt sound like much demand and then I asked my broker if he could get any and if he had any requests - he said I was the only one, so I was a bit weary - I doubt it will move much and may go down. I like the looks of the company (grwoth + div) but then I did notice when I went on their website they have had a student recently die at their dive school (full respects) but for me after that I decided to stay sideline.

[macduffy]

A nice IPO result for those brave enough to brave this one.

http://www.nzherald.co.nz/business/n...ectid=11260466

[Harvey Specter]

I read somewhere they had to get a a NZX waiver as they only attracted 300ish investors. I'm guessing their was a bit of massaging of the price. No chance it will hold up.

Was anyone here brave?

[steve fleming]

A nice IPO result for those brave enough to brave this one.

http://www.nzherald.co.nz/business/n...ectid=11260466

Yeah, would be a shame if retail investors missed out on a nice stag here, because they had read some of the substandard, cowboy media articles in relation to the company.

Pretty much has all the characteristics that mum & dad investors should be encouraged to invest in - defensive sector, excellent forecast growth, strong dividend, very attractive pricing metrics.

Seriously, the SST article was school kid stuff - the author got it fundamentally wrong.

[steve fleming]

I read somewhere they had to get a a NZX waiver as they only attracted 300ish investors. I'm guessing their was a bit of massaging of the price. No chance it will hold up.

Was anyone here brave?

There was $56m traded (21m shares) - bit more than a massage

[steve fleming]

This is no hick business, it is NZ's largest private, provider of vocational services, going to be paying 5% + dividends and double digit growth.

Would have thought NZ would want to be falling over backwards to encourage these sort of businesses to list....never mind, if NZ'ers don't understand value, maybe the aussies will (i.e. look at NVT / VOC)

So looks like there was a fair number of Australian institutions that took up the issue.

Top 20 is dominated by Australian institutions/nominees

Interesting to see The Boat Fund, a leading small cap fund manager that has returned 51% for the year, is on the top 20.

[steve fleming]

So looks like there was a fair number of Australian institutions that took up the issue.

Top 20 is dominated by Australian institutions/nominees

Interesting to see The Boat Fund, a leading small cap fund manager that has returned 51% for the year, is on the top 20.

The Boat Fund has recently advised IQE is their number 1 holding in their portfolio.

Some comments from their latest newsletter:

"IQE presently representsapproximately 7% of the market and we believethat IQE has ambitions to achieve a market sharethat is 2 to 3 times this level in the next few years."

"IQE in particular, exhibits a number of attractivecharacteristics including:


• Capital light business model generating highmargins and high returns on equity;
• High barriers to entry through high levelsof government regulation;
• High earnings visibility;
• Strong cash flows with negligible bad debt levels; and
• Multiple earnings growth levers.

In regards to earnings growth in particular, we believethere are a number of strong levers to generategrowth including:


• Organic growth in the number of domestic andinternational student enrolments;
• The usual CPI + level increase in student fees;
• Further penetration of the rapidly growing online education market with initial plans to introduce online course delivery in New Zealand; and
• Through M&A opportunities presented by the highly fragmented nature of the PTE sector in New Zealand,the same scenario being exhibited in the vocationaleducation sector in Australia. "