Quote Originally Posted by FarmerHamilton View Post
I understand from someone in the know that the shareholders of Synlait Ltd have approved the proposed in specie distribution of the Synlait Milk shares held by Synlait Limited. So the Bright 51% / Synlait Ltd 49% structure is about to become Bright 51% / about 100 other holders 49%. There will be some of those 100 holders who may wish to exit into the IPO ( they have this option ) so I guess the number of holders and the percentage they wish to sell may well be one of the factors determining the size of the IPO ....

With the market looking a bit iffy at present their timing of the IPO may have been a couple of months too late ... ??? Collapsing NZ$ will be good news though as 100% of Synlait Milks revenue is probably generated in other currencies besides the Kiwi$ ( NZD below 80c now , first time for many many months )
Those around long enough to recall the sorry history of RJI Limited later Trans Tasman Properties (TTP) and then follow through Fisher &Paykell both ending in compulsory acquistions and the current PGW debacle might seriously wonder if having a majority Chinese shareholder spells the end to an investment opportunity rather than any incentive to take part in an IPO. TTP took a tortuous route to extingushing small holders, Haier had to be forced to up their offer and PGW is about the worst its been after non sensically paying a dividend to meet the needs of Agria.