According to a Bloomberg story the Kathmandu Holdings [KMD.NZ]IPO looks set to be oversubscribed, indicating that either this is the best IPO since IPOs were invented or that investors have failed to look close enough into the prospectus for the numerous omissions and sleights of hand made by current owners Milford fund shareholders and their associates and decided there is money to be made.If the Myer float last week is anything to go by Kathmandu is going to begin trading at a deep discount when the shares begin trading on the NZX and ASX in late November.
Myer Holdings Ltd [MYR.ASX] shares were dumped as institutions holding stock soon realised they couldn't stag the issue and began to sell off.
Those patient investors wanting to get Kathmandu shares may get them for closer to their worth if they are willing to wait a while and let Mr Market decide what the company is worth.
KEY DATES
Prospectus date Friday, 23 October 2009
Retail Offer opens Tuesday, 27 October 2009
Retail Offer closes 5:00pm AEDT/NZDT, Friday, 6 November 2009
Institutional Offer and Institutional Bookbuild opens Tuesday, 10 November
Institutional Offer and Institutional Bookbuild closes Wednesday, 11 November 2009
Pricing and allocation announced Thursday, 12 November 2009
Expected commencement of trading on ASX (conditional and deferred settlement basis)
and on NZX (conditional settlement basis) Friday, 13 November 2009
Institutional Offer settlement and last day of conditional trading Tuesday, 17 November 2009
Shares expected to begin trading on a normal basis on NZX Wednesday, 18 November 2009
Expected despatch of holding statements and any refund payments if required Thursday, 19 November 2009
Shares expected to begin trading on a normal settlement basis on ASX Friday, 20 November 2009
Kathmandu @ Share Investor
Kathmandu IPO: Prospectus Analysis
Kathmandu IPO: Jan Cameron lands a blow to IPO
Kathmandu IPO: What is it worth?
Kathmandu IPO: Retail Interest High
Kathmandu IPO: A tough mountain to climb
Kathmandu No.1 but IPO should get the Bullet
Download the detailed Kathmandu Value Cruncher Report - Requires free registration at Share Investor Forum to download
Download Kathmandu IPO Prospectus
Discuss Kathmandu at Share Investor Forum
Related Amazon Reading
Initial Public Offerings by Richard F. Kleeburg
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Initial Public Offerings, by Richard F. Kleeburg
c Share Investor 2009
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