ROFL, love the idea for a sentiment of "you got to be joking".
THe loyal customers have been ropped in hook, line and sinker to take these up. I heard an analyst on YMYC mention that it was priced in for the next 2 years of projected positive earnings or something i.e. they will have to perform really, really well for the price to hold even to the IPO price.
This was really for the instos and Myer private investos to cash in on their intial investment in the co. Even at a discount of 4.15 (compared to the intitial float target of circa 4.50 they would have a return of 2.x billion on investment. Sorry dont have all the exact names and figures so not quoting verbatim but you get the just.
FLoat was to line pockets of the people much higher in the food chain, funded by the poor mums and dads investors. So the rich just get richer.
Saffer
MYR Price at posting:
$3.75 Sentiment: None Disclosure: Not Held
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