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1.IPO results

This category contains 188 posts

31 July 2019 (TheAge) – Sezzle sizzles: new buy now, pay later stock jumps 80% on first day

(31 July 2019, The Age, Business, p30, By Colin Kruger) ‘There’s more to life than Afterpay. Minneapolis-based Sezzle showed there is plenty of room for rivals in the ‘buy now, pay later’ sector, with a stunning ASX debut on Tuesday. The stock closed more than 80 per cent above its $1.22 IPO price after the … Continue reading

31 July 2019 (TheAge) – IPO performance: Redbubble shares soar 45 per cent after first operating profit

[COMMENT: This is a report on the performance of an earlier IPO. The shares might have soared in recent days, but the share price chart shows they have not our performed much since listing in 2016.] (31 July 2019, The Age, Business, p33, By Dominic Powell) ‘Shares in Redbubble surged 45 per cent as the … Continue reading

24 July 2019 (AFR) – IPOs rarer in first half, but performing better

(24 July 2019, AFR, p13, Michael Bailey, Rich List Editor) ‘Only 23 companies joined the Australian Securities Exchange in the first six months of 2019, barely half the five-year average, but the group that did list has trounced the performance of the broader All Ordinaries Index. While there were 39 initial public offerings in the … Continue reading

13 March 2019 (AFR) – The final kick in Shoes of Prey collapse for Blue Sky backers

(13 March 2019, AFR, p16, Jonathan Shapiro) ‘Investors in a Blue Sky fund that backed start-up Shoes of Prey are set to lose all their money, including a portion of the $1 million in management fees that were paid five years in advance. On Monday, Blue Sky told investors in its Blue Sky Private Equity … Continue reading

11 March 2019 (AFR) – IPOs: Super funds wasting money paying brokers for access to IPOs, data shows

(11 March 2019, AFR, p21, Jonathan Shapiro and Jemima Whyte) ‘Australian fund managers are wasting their investors’ money by paying brokers for access to IPOs, with new global research suggesting the cost of getting in early on hot floats is barely worth it. Global investment advisory firm Parametrics has sought to debunk the myth that … Continue reading

5 March 2019 (AFR) – IPO: Why investors think ASX fintech stock Credible is undervalued

(5 March 2019, AFR, p20, Yolanda Redrup) ‘Bullish long-standing investors in ASX-listed US loans marketplace Credible Labs have been vindicated in their insistence that it had been one of the most undervalued stocks on the local boards, after its shares followed a 12.5 per cent rise on Friday with an even bigger 17 per cent … Continue reading

27 Feb 2019 (TheAge,SMH) – Top-10 tips for not losing money in the share market

(27 February 2019, The Age, MONEY supplement, p2, by Marcus Padley) ‘You don’t have to be a genius to work out that if only we could avoid the losses, we would all be winners. The first rule of making money in the share market is not to lose it. So here are my top-10 tips … Continue reading

26 Feb 2019 (TheAge) – Appen rockets on ‘mega trend’ of artificial intelligence

(26 February 2019, The Age, Business, p27, by Cara Waters and Lucy Battersby) ‘Shares in the search and language dataset company Appen rocketed on Monday on the back of its full-year results driven by the “mega trend” of artificial intelligence. Appen’s revenue increased 120 per cent to $364 million and underlying post-tax profit increased 148 per … Continue reading

26 Feb 2019 (TheAge) – Former AFL player loses $160m as GetSwift sinks on legal action

(26 February 2019, The Age, Business, p27, by Colin Kruger) ‘GetSwift shares tested record lows as the market reacted to Friday’s late news that the company and two of its executives, Bane Hunter and former Melbourne Football Club player Joel Macdonald, had been sued by the corporate regulator. GetSwift said it would vigorously defend itself against … Continue reading

19 Feb 2019 (AFR) – Bingo downgrades profit 20pc due to apartment building slowdown

(19 February 2019, AFR, p15, by Simon Evans) ‘Investor confidence in waste management group Bingo Industries has been shredded after the company cut its profit forecasts by up to 20 per cent just three months after re-assuring investors at its annual meeting that a downturn in construction wouldn’t hurt its outlook. Bingo shares tumbled by … Continue reading

31 Jan 2019 (AFR) – IPO queue shrinks after 18pc loss in 2018

(31 January 2019, AFR, p17, by Michael Bailey) ‘The market for initial public offerings will remain soft this year after last year saw the share price of new listings decline on average for the first time in recent history, an analysis by professional services firm HLB Mann Judd has found. IPOs on the Australian Securities … Continue reading

30 Jan 2019 (AFR) – IPO: Afterpay challenger Splitit up 90 per cent on first day of trade

(30 January 2019, AFR, p16, by Yolanda Redrup) ‘Israeli fintech start-up Splitit has got the tech initial public offering market off to a cracking start for the year, with the payments-splitting company jumping 90 per cent on it first day of trade. Having raised $12 million and listed with an issue price of 20¢ on … Continue reading

17 Jan 2019 (AFR) – Real estate floats hard to pump this year: Investment bankers’ view

(17 January 2019, AFR, p28, by Matthew Cranston) ‘Leading investment bankers in Australia’s commercial property market have admitted new floats and other corporate M&A activity will be softer this year due to volatile conditions and heated valuations. In an exclusive roundtable with The Australian Financial Review the majority of investment bankers agreed that commercial property … Continue reading

17 Jan 2019 (AFR) – IPOs – Hugh Dive: The Liar’s Poker theatrics behind the IPO process

[COMMENT: Now this is a very interesting article about what happens behind the scenes during the IPO (Initial Public Offer) process, regarding the allocation of shares to IPO participants, and the float pricing. It sounds like a bit of a game, except with lots of money at stake.] (17 January 2019, AFR, p27,  by Hugh … Continue reading

31 Dec 2018 (TheAge) – IPO: The good, the bad and the ugly: How new ASX stocks performed in 2018

[COMMENT: Since I did some research a few years ago, I am convinced that the average retail investor should NOT participate in an IPO (see more details here). The research that is described in the news article below simply confirms this, with some further facts. Please read it for yourself.] (31 December 2018, The Age, … Continue reading

10 Dec 2018 (AFR) – IPOs: Year of shame – Equity capital raisings on ice after disastrous 2018

[COMMENT: I cannot help but comment on this really good news article. Some time ago I wondered about the usefulness for retail investors of participating in IPOs, so I did some research. My conclusion was that they are too dangerous, and my notes and other IPO performances are available here (which I need to update … Continue reading

22 Nov 2018 (TheAge) – Coles launches as ASX top-20 giant at a discount to Woolworths

(22 November 2018, The Age, Business, p22, Patrick Hatc) ‘Coles landed on the Australian Stock Exchange as a standalone company on Wednesday with a market value of $17 billion – certifying it as a ASX 20-top giant, but one that is trading at a discount to its direct competitor Woolworths. Retail conglomerate Wesfarmers finalised the … Continue reading

23 Oct 2018 (AFR) – IPO (fail): Coronado pitch falls flat with core constituency

(23 October 2018, AFR, p17, by Peter Ker) ‘Some of Australia’s biggest resources-focused investors bypassed the opportunity to invest in Coronado Global Resources’ local float, fearing it was a top-of-the-cycle sell-down by US private equity firm Energy and Minerals Group (EMG). The offering relied heavily on foreign investors amid weak interest from Australian fund managers. After failing … Continue reading

28 Aug 2018 (AFR) – Big Un appoints Deloitte as administrator

(28 August 2018, AFR, p19, by Jonathan Shapiro) ‘Big Un Limited, the controversial ASX listed online video producer has called in the administrators, dashing the faint hope among shareholders that they will recover their money. Deloitte Restructuring Services said it was appointed on Friday in a statement posted to the exchange on Monday. It comes … Continue reading

20 Aug 2018 (AFR) – IPO: Nickel Mines hits the boards on back of China steelmaker’s punt on Indonesia

(20 August 2018, AFR, p18by Brad Thompson) ‘Veteran investor and deal maker Norm Seckold expects nickel prices to soar over the long term after playing his part in one of the biggest initial public offerings on the Australian Securities Exchange in the past year. Nickel Mines will list on the ASX on Monday with a … Continue reading

31 July 2018 (AFR) – IPO perf: Big Un reports $52m half year loss

(31 July 2018, AFR, p27, by Jonathan Shapiro) ‘Big Un Limited, the controversial small business video production company, has reported a $52.2 million net loss for the half year to December 2017 as it published its long overdue accounts. The delay in filing its half-year accounts had already forced the regulator to ban the company … Continue reading

14 July 2018 (AFR) – IPO: Viva Energy shares hit the ASX boards lower

(14 July 2018, AFR, p25, by Angela Macdonald-Smith ‘Viva Energy (ASX:VEA), the country’s biggest float in three-and-a-half years, has made an underwhelming debut onto the listed sharemarket, disappointing any investors looking for quick profits. After hitting the boards at $2.43, 7¢ off the sale price in the $2.65 billion mega-IPO, the shares closed at the … Continue reading

9 July 2018 (AFR) – IPO performance: Bulls & Bears: Bingo Industries

(9 July 2018, AFR, p21, by Jemima Whyte) ‘The Dial-a-Dump founder and owner of the country’s largest private waste management business is branching into the superyacht business. But the ASX’s newest waste management entrant, Bingo Industries, is sticking to its core strategy: building a national network to collect, sort and dispose rubbish. But in doing … Continue reading

3 July 2018 (AFR) – IPO: Wooden spoon for Marley Spoon in poor ASX debut

(3 July 2018, AFR, p17, by Simon Evans\) ‘The chief executive of home meal kits group Marley Spoon says he expects “distortions” in the first year between the price at which the sharemarket values the company and what the inherent worth of the firm is, as he shrugged off a disappointing debut on the ASX … Continue reading

23 June 2018 (AFR) – IPO performance: 99-year-old John Johnston to end Godfreys’ ASX nightmare

[COMMENT: I can’t help but comment that any astute investor in this stock would have seen the writing on the wall many months ago, and ought to ahve quit their position. Sadly, many investors get emotionally attached to stocks, and can’t let go, and many hold on to a belief in the stock – a … Continue reading

24 May 2018 (AFR) – Big Un investors turn dark after ‘life changing’ losses

[COMMENT: This is another very good example of why we should not be committing a large chunk of our investing portfolio to just one stock. No matter how convincing or compelling the story from the company, there is a possibility that something might go wrong.] (24 May 2018, AFR, p52, by Jonathan Shapiro) ‘ “Think … Continue reading

19 May 2018 (AFR) – IPOS and Tech unicorns: will they keep soaring or are valuations fantasy?

(19 May 2018, AFR, p30, by Tony Featherstone) ‘The rise of billion-dollar software stocks is forcing investors to decide if a new generation of tech unicorns will keep soaring or if their valuations are fantasy. The tech-listings boom is spawning stars. There are 17 tech unicorns – an industry term used to describe tech companies … Continue reading

15 May 2018 (AFR) – IPO: Evans Dixon shares gain on ASX debut

(15 May 2018, AFR, p18, by Jonathan Shapiro) ‘Shares in wealth manager Evans Dixon made a solid debut on the Australian stock exchange, with investors pushing the stock up 8.4 per cent to close at $2.71. The shares listed at $2.50 per share, and traded as high as $2.80 on light trading volumes. Around 50,000 … Continue reading

14 May 2018 (AFR) – IPO:Kerry Stokes, Robert Millner back $170m Evans Dixon float

[IPO Update (with no recommendations or advice).] (14 May 2018, AFR, p16, by Carrie LaFrenz) ‘Wealth adviser Evans Dixon Group has received backing from business magnates Kerry Stokes and Robert Millner, executive chairman of fund manager Washington H. Soul Pattinson, for its $170 million initial public offering. The company, which was formed by the merger … Continue reading

11 May 2018 (AFR) – Godfreys hoists white flag on John Johnston takeover bid, downgrades profit

(11 May 2018, AFR, p27, by Simon Evans) ‘Ailing retailer Godfreys has warned of an alarming 27 per cent tumble in sales in the past two weeks as it revealed a hefty profit downgrade of at least 30 per cent after a disastrous switch in its television advertising approach away from discount sales. The vacuum … Continue reading

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