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Thread: ikeGPS - IPO

  1. #1
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    Default ikeGPS - IPO

    ikeGPS have announced their intention to IPO:

    http://www.nbr.co.nz/article/tech-co...-ipo-db-157492

    Looks promising - small capital raise. Founders take some money of the table so they should have a decent lockup on the rest. NO details on revenue, profit or growth though.

    Website: http://www.ikegps.com/
    Last edited by Harvey Specter; 11-06-2014 at 11:04 AM. Reason: added website

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    Quote Originally Posted by Harvey Specter View Post
    ikeGPS have announced their intention to IPO:

    http://www.nbr.co.nz/article/tech-co...-ipo-db-157492

    Looks promising - small capital raise. Founders take some money of the table so they should have a decent lockup on the rest. NO details on revenue, profit or growth though.

    Thanks HS

    I'm pretty sure this technology has been around for years, but linking it to data collection could be a simple way to commercialise it.

    Any idea who their competition is?

    The spike addition to the smart phone is pretty cool, but again I'm not sure who would want to use it.

    Need to do some research into this one. Its hasn't got me really excited yet.
    Last edited by Carpenterjoe; 11-06-2014 at 10:42 AM.

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    Quote Originally Posted by Carpenterjoe View Post
    I'm pretty sure this technology has been around for years, but linking it to data collection could be a simple way to commercialise it.

    Any idea who their competition is?

    The spike addition to the smart phone is pretty cool, but again I'm not sure who would want to use it.

    Need to do some research into this one. Its hasn't got me really excited yet.
    My understanding is they have an expensive hardware option (like $10k+) which is used by utilities etc: http://www.ikegps.com/industries/

    SHould drive huge efficencies for any company with a GIS system (ie. need to know exact locations of assets): http://www.ikegps.com/why-ike/

    Spike was a kickstarter project and the development was probably completely prefunded via presales. A great low risk strategy in my opinion and whilc a product line in its own right, may lead to future upsales to the commercial module.

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    Default ikeGPS raises $25 million, decides against offering existing shares

    ikeGPS Group Ltd completed a $25 million institutional & broker bookbuild at $1.10/share yesterday and expects to launch its initial public offering on Tuesday 1 July. The company intends to register a prospectus next Monday. There will be no public pool.
    It’s also decided not to proceed with the sale of up to $6 million of existing shares. Chairman Rick Christie said: “The board has resolved that the offer will comprise an offer of new shares only and will not include the sale of any existing shares. All existing shares in the company will be subject to the escrow arrangements that will be detailed in the investment statement & prospectus.”
    ike provides solutions for the remote measuring & modelling of objects using a combination of measurement software, cameras, lasers, computing, GPS & 3D-compasses. It has over 200 electric utility & engineering customers and has recently agreed a trademark licence agreement with General Electric. In addition, its new mobile solution, Spike, brings the power of this technology to a smartphone or tablet platform.
    Chief executive Glenn Milnes said the company would use its new capital to accelerate its growth, particularly in the US.
    Forsyth Barr & Deutsche Craigs have been appointed joint lead managers & joint organising participants to the offer.
    Attribution: Company release

    Interesting they didn't sell the $6m of existing shares. Suggests the bookbuild wasn't that strong? Or was it really strong that they have decided to get a better price post IPO?

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    Smokin - I take it that your recommendation is stay away from this.

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    The concept is not new. Military's around the world have been using the likes for years now. (known as Range Finders). I believe older models can be bought on the open market now. Cant find, but I think there are two other Coy's with similar products available now.
    Cheers BB
    PS. However I will be watching

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    69....that is the best post I have seen.
    Back to bed with you !

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    http://structure.io/

    Why I am staying clear of IkeGPS.

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    So these people are listing today, haven't paid much attention to this. Seems like there a little bit late to the party in terms of listings. highlighted by Gentrack, hirepool etc

    anyone onboard

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    Ouch!

    Down 10c and next bid is a further 10c down. Only three trades so far. Hope no one tried to stag.

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    Quote Originally Posted by tosspot View Post
    anyone onboard
    Not me. My concern is they appear to be trying to buy market share but (I dont think) they get recurring revenue so all they are doing is subsidizing purchases. By the time those purchasers come back for another purchase, new competitors may have released a similar/better product - we might even be able to do it in Google maps street view if the item in question is caught by the cameras.

    May take a closer look once it stabilizes but I dont think it is worth over $50m.

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    CEO Butch Analytics Ltd winner69's Avatar
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    A very perceptive CEO is Glenn -

    IkeGPS chief executive Glenn Milnes says the company would have "much preferred" its shares to have risen ......
    http://www.nzherald.co.nz/business/n...ctid=11297773t

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    The opening was so poor NZX has removed the IKE theme from its website early...

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    Quote Originally Posted by winner69 View Post
    A very perceptive CEO is Glenn - IkeGPS chief executive Glenn Milnes says the company would have "much preferred" its shares to have risen ......
    http://www.nzherald.co.nz/business/n...ctid=11297773t
    Quote Originally Posted by winner69 View Post
    Milnes has said the company was not releasing "specific dates and timeframes" on when it expected to turn a profit.
    "Getting to profitability is important to us," he said last month.
    That’s nice. With a business case like that I think the IPO actually went well.

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    "Using three cameras, the software can even triangulate to figure out the distance between two points in the picture: whichever two points you pick out. "
    http://gizmodo.com/while-you-werent-...mos-1632621335

    Essentially a gimmick on a sub $1000 consumer tablet has the potential to replace ike's entire business.

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    I think your post number 5 is relevant and all this lot may have been blindsided by a lack of knowledge of what is available in the outside world.Brokers and others have to do research before they can invest other peoples money but how they explain the share price is beyond me.They may say it's a long term investment until it reaches 50 cents and then say it's too small a percentage of the portfolio and so we are selling it.Fund managers can escape client scrutiny until reporting time but then it may be too late for the poor investors.It's just the way it is.Balance would put a more enlightened outburst on the situation.IMHO.

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    I note their latest announcement states that the partnership agreement signed in the USA generates revenues that meet their prospective turnover through the next two years! and in a interesting field of intelligence and defence. good on someone for keeping the wheels turning.

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    have been thinking about investing tech companies like IKE or GTK, GEO. any suggestions anyone?

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    Quote Originally Posted by babymonster View Post
    have been thinking about investing tech companies like IKE or GTK, GEO. any suggestions anyone?
    I haven't looked at IKE in any great depth, so cannot really comment (and this is the IKE thread so sorry if my comments below are out of place).

    But I do consider myself to have a pretty good understanding of GTK's business (and systems) and I don't consider their offering to be particularly ground-breaking, but they are established and do have paying clients. However the technology stack they use is dated and there aren't any plans to modernise this AFAIK. I understand this (and other things) to be causing a few issues with at least one of their more progressive customers opting to bring parts of their billing systems inhouse - a project that has been successful thus far and they are continuing to invest in this development. From my understanding their solution has been faster and more cost effective for them. This is a big warning sign IMHO & for that and many other reasons their SP would have to be massively undervalued for me to consider them.

    I also have a good understanding of GEO and don't really have many positive things to say about their product or their track record so far - I believe they're currently looking for a CEO and burning through cash - until they prove themselves in what is a very competitive market (do a Google search for "job management software" and you'll see what I mean) or you fancy burning some cash I wouldn't entertain investing in this company either.

    I've also had a few beers (which apparently makes me bearish on tech stocks!) so don't take my word for it DYOR etc.
    Last edited by KiwiGekko; 09-01-2015 at 05:11 PM.

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