From the AFR today.. Shriro warms investors' hearts with...

From the AFR today..

Shriro warms investors' hearts with barbecues, cooktops and heaters
http://www.copyright link/business/...arbecues-cooktops-and-heaters-20150616-ghoo6u

The way to any man's heart, so they say, is through their stomach.
When consumer products company Shriro Holdings started the roadshow in May for its $50 million initial public offer, 30 mostly male fund managers were invited to its showroom in Sydney's south-west to dine on lamb, seafood and chicken cooked on the company's charcoal barbecues and high-quality cooktops by its in-house chef.
"We got $30 million of orders the next day," chief executive Mike Westrup said. "We have some great appliance brands and some great products, so we may as well show them off."
While a host of companies, including insurer Greenstone, wood products supplier Carter Holt Harvey, printing solutions company IVE Group and Metro Property Group have been forced to pull the plug, postpone or reprice initial public offers, Shriro's $50.5 million IPO, jointly managed by Wilson HTM and ANZ Securities, was four times oversubcribed when it closed last week.

Shriro took only the $50.5 million it was seeking, setting the scene for what is likely to be a strong debut for its $1 shares, which are due to list next Tuesday, valuing the company at $125 million, including $30 million of debt.
The  float heralds a new era for the Shriro group, which started life 106 years ago in northern China, selling furs to Europe via the trans-Siberian railway, and is now a large kitchen appliances and consumer electronics marketer and distributor, with operations throughout Asia, Australia and New Zealand.

The biggest shareholder, Monaco-based Mark Shriro's Shriro Pacific, is reducing its stake from 70 per cent to 34 per cent but is expected to remain on the scene for the foreseeable future, while 14 per cent of the shares are held by the management team led by Mr Westrup, a former Breville Ltd, Myer and Estee Lauder executive who has overseen Shriro's growth over the past 23 years.
Shriro owns the Omega, Robinhood, Everdure and Altise brands and sells products including cooktops, ovens, rangehoods, dishwashers, heaters, sinks, taps, ceiling fans and barbecues through retailers such as Harvey Norman, Bunnings, Myer, Winnings, Bing Lee and BIG W.