IPO of Latitude Financial Services | Page 2 | Australian Frequent Flyer
Australian Frequent Flyer

Welcome to Australia's leading independent Frequent Flyer and Travel Resource since 1998!
Our site contains tons of information that will improve your travel experience.

Joining AFF is fast, simple & absolutely free - register now and take immediate advantage of these great BENEFITS.

Once registered, this box will disappear. And you will see fewer advertisements :)

IPO of Latitude Financial Services

drron

Enthusiast
AFF Supporter
Joined
Jul 4, 2002
Messages
20,212
I was also tipped Afterpay.But if you have it in your portfolio now might be a good time to sell.The activist who went after Wework has announced he is now concentrating on Afterpay.
 

cove

Enthusiast
AFF Supporter
Joined
Feb 15, 2008
Messages
11,673
The application price has been announced as $2 which is the bottom end of the price range. Two days ago I heard that they had the issue 70% covered so that means quite a few folks are hesitating to invest if that 70% proves to be true.
 

Flying mermaid

Established Member
AFF Supporter
Joined
May 20, 2011
Messages
4,184
Qantas
Platinum
Flights
My Map
They have just repriced it at $1.78 - clearly having problems getting it away. At $1.78 it’s more interesting, but I think I will still stay clear :)
 

cove

Enthusiast
AFF Supporter
Joined
Feb 15, 2008
Messages
11,673
Latitude will be very lucky if they get their company floated.
I just use their 28 degrees credit card but never for cash advances.
Their accounts that they have to write off are a largish proportion of their gross profit each year.
 

Flying mermaid

Established Member
AFF Supporter
Joined
May 20, 2011
Messages
4,184
Qantas
Platinum
Flights
My Map
Impairments are always higher in that sector - not sure Latitude is any worse than their competitors. They are dressing up their BNPL offering, but seem to be behind everyone else in rolling it out and also their debt levels seem a bit high to me, compared to others in the sector.

I prefer to sit on the sidelines and if that means missing out on an early profit that’s fine. As a retiree I need to be more cautious :)
 

cove

Enthusiast
AFF Supporter
Joined
Feb 15, 2008
Messages
11,673
Tuesday will determine whether the Latitude float is on or off I am thinking....or Wednesday at the latest. I am unsure if the price cut to $1.78 will get investors interested enough.
 

Flying mermaid

Established Member
AFF Supporter
Joined
May 20, 2011
Messages
4,184
Qantas
Platinum
Flights
My Map
Tuesday will determine whether the Latitude float is on or off I am thinking....or Wednesday at the latest. I am unsure if the price cut to $1.78 will get investors interested enough.
I think at $1.78 they will. Morningstar came up with a fair value of $2, so at a $1.78 and a pretty fancy dividend they should get enough takers.
 

cove

Enthusiast
AFF Supporter
Joined
Feb 15, 2008
Messages
11,673
This price change did get me thinking about how little GE sold out for to the current group of private equity folks. Dropping a billion off the starting price means it was bought for a more modest amount when GE bailed out.
 

cove

Enthusiast
AFF Supporter
Joined
Feb 15, 2008
Messages
11,673
The latest price is closer to fair now and the vendors would want a price above the float price as they have more shares to flog off in their final exit some time later.
 

amaroo

Enthusiast
AFF Supporter
Joined
Sep 22, 2011
Messages
11,320
Qantas
Platinum 1
Flights
My Map
Article in the The Australian - IPO has been pulled

The $3.2bn float of Latitude Financial Group has been pulled.
It comes after the bookbuild for the deal closed Tuesday and the company was set to list on Friday.

Earlier in the day, Latitude sent a message to the market for its initial public offering suggesting that early indications of demand exceeded its offer size.

This was assuming that $330m of the deal is allocated to retail investors.

Retail investors had been asked to confirm their broker firm allocations over the course of Tuesday.

It comes after Latitude Financial Group on Monday repriced its initial public offering to $1.78 per share in a move that will see the business list as one with a $3.17bn market value.

The raise size was also scaled back to about $1bn.

more to come
 
  • Haha
Reactions: tgh

moa999

Senior Member
AFF Supporter
Joined
Jun 23, 2003
Messages
9,659
Flights
My Map
Demand exceeds offer size to pulled in under 6 hours.
Just shows how jittery things are despite markets at almost all time highs and lows interest rates.
 

Flying mermaid

Established Member
AFF Supporter
Joined
May 20, 2011
Messages
4,184
Qantas
Platinum
Flights
My Map
Demand exceeds offer size to pulled in under 6 hours.
Just shows how jittery things are despite markets at almost all time highs and lows interest rates.
I was a bit sceptical when I saw the demand exceeds stock message - sounded like a bit of a desperate attempt to generate confirmed orders ......

PE have only got themselves to blame - too many floats that didn’t perform - Myers and Dick Smith come to mind ....
 

tgh

Established Member
AFF Supporter
Joined
Apr 23, 2006
Messages
1,391
Perhaps the market is telling us all something , but are we listening ?
 

tgh

Established Member
AFF Supporter
Joined
Apr 23, 2006
Messages
1,391
Nah. I think the market is simply saying 'Turn it up - too greedy

With respect Roof_lyer….there is always a message from the market….:)
Sometimes you can get anything away , but In this case the market has been more circumspect.
This tells me the market is cautious and that canny investors should be aware of the vibe.. no more.. and no less…..
 

AFF on Air Podcast

  • “Hidden City” Court Case – AIR022
    Sat, 19 Oct 2019 09:30:46 AEDT
      Earlier this year, German airline Lufthansa tried to sue a passenger that exploited the loophole of hidden-city ticketing by skipping the last flight on their ticket. This ...
  • Summer in Europe – AIR021
    Sat, 05 Oct 2019 17:28:53 AEST
      Qantas and Virgin Australia are fighting over two rare and lucrative new landing slots for Tokyo's Haneda Airport. Meanwhile, four European airlines have gone bankrupt in ...
  • Are Loyalty Programs a Scam? – AIR020
    Sat, 21 Sep 2019 08:36:18 AEST
      The ACCC recently released a damning draft report into Australian loyalty schemes, calling out practices that it says may shock consumers and putting loyalty program opera ...
  • Air Chathams – AIR019
    Sat, 07 Sep 2019 16:41:06 AEST
      With less than two weeks until the upcoming Qantas Frequent Flyer changes, now is the time to make any last-minute Classic Flight Reward bookings! In this episode, Matt ch ...
  • Project Sunrise – AIR018
    Sat, 24 Aug 2019 16:12:31 AEST
      Later this year, Qantas will decide which aircraft it will use to operate non-stop flights from the east coast of Australia to London and New York - a feat it aims to achi ...

Community Statistics

Threads
83,346
Messages
1,935,791
Members
50,942
Latest member
paa
Top