Feedback from allocations by the 3 Brokers who did the tiny...

Feedback from allocations by the 3 Brokers who did the tiny Spread.

1. Commsec 1 has across the Board 81% Scaleback
2. JB Were has around 90% Scaleback
3. Macquarie has the worst up to 99% Scaleback unless you applied for $5k or so.

The word is these 3 brokers were given Tiniest of allocations so that those tiny amount of shares to be swallowed by the Cornerstone Fundies and after that SP to join a Vertical manner! Owners apparently could have done this at $3.30 as 1.5 times the size of the IPO was expressed in interests but decided to go cornerstone way at$2.60 because
A. They are not selling a single share into the IPO
B. The major shareholder actually bought into the IPO which is unreal these days
C. Because of A and B and because they only gave tiniest of allocations to the Spreads like us and Thye hand picked those cornerstone guys from many times oversubscribed Cornerstone Process so they would like the spreads to sell and move on so the SP can be totally controlled after listing. What a great idea. This idea was used by Freelancer's Matt Barrie too in 2003.

So interesting to see the Open on 31st and the SP by 7th Aug when the Normal Settlement Process starts. Like Peterdobes said above Pepper really went into the IPO at a 2015 PE of 8'sh rather than the 10 times they said in the Prospectus. Its cheap for a Financial Stock. Cheers.