Understand your view, but a lot depends on the price to be set this week, and we are in a strong rising market, with only one other "pure" department store (DJS) on the ASX.
Price issues aside, MYR is a top quality retailer in Australia and most institutions will want a position in it, particularly in this market. Recent results in the USA for Microsoft, Amazon are showing that the consumer is still alive - and we do have Xmas coming up. Recent results from WES are also encouraging. And look at the DJ's share price.
I have also heard that 60% of shareholders will be Myer One cardholders. They would be very silly to give them a negative experience with the shares - they could easily turn to DJs in protest.
I will be anticipating a 10-15% gain on listing. But a lot depends on the supply/demand situation for institutions when it lists.
MYR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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