Tyro is proving to be interesting
1 From Australian a few days ago:
" Apparently, Tyro Payments has attracted top quality cornerstone investors, with a major US-based institutional investor committing to a sizeable amount of stock. Australian groups among the cornerstone investors are QVG Capital and Regal Funds Management. The charity Hearts and Minds Investments is also like to back it. The thinking is that it will perform strongly once listed. Tyro told investors on Thursday that its IPO priced at between $2.50 and $2.75 a share would raise between $272.4m and $287.1m and that the bookbuild would be brought forward a day to December 2. The company will list on December 6.
2. Tyro is cheaper than its USA benchmarks and looks like their roadshow in the USA seemed to attract some US investors. Probably the Atlassian and Cannon Brooks connection did not go un noticed as well.
3. I have heard from several sources that the Tyro business is well run and customers actually like using their terminals and associated services.
In conclusion , large market cap business, there will be liquidity, seems to be USA buying interest .
Will be very surprised if it lists at a discount to IPO price and every chance of a premium on listing.
In short, a reasonable bet. ( There is a big distinction between a reasonable investment and a reasonable bet !)
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