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MPG - Metro Glass
We'll have to wait for the Investment Statement to get a better idea but does anyone else think that this rash of IPO's is starting to sound like a faint warning bell?
http://www.nzherald.co.nz/business/n...ectid=11285704
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Where's the growth?
A company in trouble, bought cheap by private equity, financially engineered now to sell into a strong market?
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Hopefully they've learnt from the Hirepool debacle and come up with a reasonable offering
Last edited by nextbigthing; 02-07-2014 at 08:41 AM.
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The real winners were the owners who got $366m in 2006
Good blokes those guys .....laughed all the way to bank
Just shows you how stupid this years were .....PE paying inflated prices for anything with a cash flow.
Last edited by winner69; 02-07-2014 at 09:13 AM.
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Originally Posted by Balance
Where's the growth?
A company in trouble, bought cheap by private equity, financially engineered now to sell into a strong market?
Revenue wise not much
They will tout that at proposed prices lower multiples Han the likes of FBU and STU
Must be a bargain then
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Originally Posted by winner69
Revenue wise not much
They will tout that at proposed prices lower multiples Han the likes of FBU and STU
Must be a bargain then
Snrs.
No touch with as you say "barging pole". Yes?
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From what I know they must have grown big time in the last 2 to justify a $300m market cap
Also be looking at how much debt gets left behind in the company ($80m odd in last accounts)
Prospectus will be interesting - after the market they are in is booming big time .....Christchurch CBD is going to be full of spanking new buildings endowed with glass
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A couple of months ago we broke an upstairs window, and as a frugal one does I duly measured it all up and popped down to smith and smith for a replacement pane. Didn’t even bother with a call out in Christchurch anticipating backlog.
Not really to my surprise I was told that their glaziers were all busy and that I would have to wait three days.
That’s three days for an across the counter sale, wish I had shares in smith and smith I thought.
When I offered, tongue in cheek, to go out the back to cut it myself, the shop assistant looked at me blankly for a few seconds in quiet contemplation but decided rightfully that it was not an option.
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Another private equity company bringing a company with a chequered history to the market when the market is currently priced at 22 year high's on a forward PE basis.
Yes this rush of IPO's is strategically timed and NO companies such as this which have cyclical earnings should not command a PE of early teens in anything other than an irrational market.
Hirepool Mk2 anyone ? YAWN...
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