Comm Sec broker firms always seem to close a bit earlier than everyone else and there is very little room to move once they have closed their broker firm bid window.
Agree with your comments about Padley. I like his views a lot as well.
I have to say I agree with the views of nih123 on MPL.
I am purely treating it as a play and think there will be something in it.
Have spent a LOT of time researching MPL as I do with everything.
My initial thoughts are:
Great business being sold at a really high price.
If MPL achieves results similar to BUPA then PAT shuold go to about $340m.
Now, will Instos be bidding based on current 2015 PAT forecast or what they can do in 2016 etc.
MPL is expensive based on USA listed operators so not sure if they will be successful selling stock overseas.
I hear the Asian demand is strong .
JLM pre listing research value it in the range $1.45 to $2.11.
Depending on how much they give to Instos the scale back will be about 30% to 50% for retail.
I would never buy this stock on market based on IPO price range.
Could go on for ever on results of my research to date.
Prediction at moment:
IPO price of $1.80 with a modest premium on listing
It will not surprise me if it goes at $2.00 or more in which case BINGO for retail !
