This IPO looks ok, based on offer price of NZ $1.55 - $2.50 FY17 div yield is 4.4 – 5.1%, imputed gross div yield of 6.5 to 7.1% for Aus residents, 12.7 – 14.7 FY17 P/E, moderate debt level post IPO of NZ $120M for Enterprise Value of $671M to $755M and I don’t see roast chicken being priced out of anyone’s eating habits anytime soon, unlike fish and steak.
Thoughts anyone?
