TTS - Tatts Group Limited
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Tattersall's
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Tattersall's to list in July
02/06/2005 10:42:11 AM
Australia's biggest privately-owned company Tattersall's will list in July after a $2.03 billion public float, the country's biggest this year.
Mum and dad investors will be able to apply for shares in Tattersall's at $2.90 per share under the initial public offer.
The company will have about 700 million shares on issue at the time of listing on the Australian Stock Exchange, expected to be early next month.
Beneficiaries, including descendants of company founder George Adams, and staff will take up 600 million shares and 100 million new shares will be offered to the public.
About $290 million will be raised from the public offer, although the final price will not be set until after an institutional bookbuild process.
Tattersall's is expected to have a market capitalisation of $2.03 billion on listing.
"Listing on the ASX will provide new opportunities to write the next chapters in the history of Tattersall's," Tattersall's chairman David Jones said.
Tattersall's chief executive Duncan Fischer said listing would provide the group with greater access to capital for expansion and help the company position itself for gaming and lottery licences.
"It will allow us to build even further on our strong brands, our reputation of trust and integrity, and our deep and long experience in the gaming and lotteries industries," Mr Fischer said.
The retail share offer is expected to open on June 10 and close on June 29.
A final price will be established for the shares following an institutional bookbuild to be conducted from July 4 to July 5.
In its prospectus, Tattersall's is forecasting total revenue of $2.52 billion for the year ending June 30, 2006, with total earnings before interest, tax, depreciation and amortisation (EBITDA) of $228.8 million.
Tattersall's has had to restructure from a private entity with about 2,500 beneficiaries into a corporate entity before beginning the process to list on the ASX.
Tattersall's had been expected to float on the ASX late last year but it was delayed by opposition from the trust's beneficiaries and the need to secure favourable rulings in relation to the restructure from the Australian Tax Office.
Tattersall's holds one of two gaming machine licences in Victoria, has keno operations in a joint venture with Tabcorp, and operates the lottery in Victoria, the Northern Territory and Tasmania.
From E*Trade...
Tattersall's to list in July
02/06/2005 10:42:11 AM
Australia's biggest privately-owned company Tattersall's will list in July after a $2.03 billion public float, the country's biggest this year.
Mum and dad investors will be able to apply for shares in Tattersall's at $2.90 per share under the initial public offer.
The company will have about 700 million shares on issue at the time of listing on the Australian Stock Exchange, expected to be early next month.
Beneficiaries, including descendants of company founder George Adams, and staff will take up 600 million shares and 100 million new shares will be offered to the public.
About $290 million will be raised from the public offer, although the final price will not be set until after an institutional bookbuild process.
Tattersall's is expected to have a market capitalisation of $2.03 billion on listing.
"Listing on the ASX will provide new opportunities to write the next chapters in the history of Tattersall's," Tattersall's chairman David Jones said.
Tattersall's chief executive Duncan Fischer said listing would provide the group with greater access to capital for expansion and help the company position itself for gaming and lottery licences.
"It will allow us to build even further on our strong brands, our reputation of trust and integrity, and our deep and long experience in the gaming and lotteries industries," Mr Fischer said.
The retail share offer is expected to open on June 10 and close on June 29.
A final price will be established for the shares following an institutional bookbuild to be conducted from July 4 to July 5.
In its prospectus, Tattersall's is forecasting total revenue of $2.52 billion for the year ending June 30, 2006, with total earnings before interest, tax, depreciation and amortisation (EBITDA) of $228.8 million.
Tattersall's has had to restructure from a private entity with about 2,500 beneficiaries into a corporate entity before beginning the process to list on the ASX.
Tattersall's had been expected to float on the ASX late last year but it was delayed by opposition from the trust's beneficiaries and the need to secure favourable rulings in relation to the restructure from the Australian Tax Office.
Tattersall's holds one of two gaming machine licences in Victoria, has keno operations in a joint venture with Tabcorp, and operates the lottery in Victoria, the Northern Territory and Tasmania.
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Re: Tattersall's
I wonder how the share price of 700 million shares @ $2.90 stacks up "value" wise against UTB @ $13 (abt. 133 million shares) and TAH @ $16 (abt. 400 million shares)?
Any thoughts?
Cheers,
AJ
I wonder how the share price of 700 million shares @ $2.90 stacks up "value" wise against UTB @ $13 (abt. 133 million shares) and TAH @ $16 (abt. 400 million shares)?
Any thoughts?
Cheers,
AJ
Re: Tattersall's
Hi,
Where can I get the prospectus? I am not having much luck with ASX flotsam or jb were
Cheers
J
Hi,
Where can I get the prospectus? I am not having much luck with ASX flotsam or jb were
Cheers
J
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Re: Tattersall's
Macquarie are handling the float.
I've heard it will be difficult.
Good luck!!
Sam
Macquarie are handling the float.
I've heard it will be difficult.
Good luck!!
Sam
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Re: Tattersall's
before u read the prospectus, read the articles in todays afr, conparing with the other gaming stocks like tah & utb - you might be better off avoiding or jumping in later when they become a little more common....better than 2.90 likely to be available down the track.
before u read the prospectus, read the articles in todays afr, conparing with the other gaming stocks like tah & utb - you might be better off avoiding or jumping in later when they become a little more common....better than 2.90 likely to be available down the track.
RichKid
PlanYourTrade > TradeYourPlan
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Re: TTS Tattersall's
If you ever wondered what those odd spikes on the graphs were here is an explanation:
If you ever wondered what those odd spikes on the graphs were here is an explanation:
Re: TTS Tattersall's
An old buy at $3.20 was activated yesterday - money is returned on the same day - hopefully a good omen - and this morning an announcement on merged activities with Bill Express - this may be the beginning of an aggressive company. - time will tell
An old buy at $3.20 was activated yesterday - money is returned on the same day - hopefully a good omen - and this morning an announcement on merged activities with Bill Express - this may be the beginning of an aggressive company. - time will tell
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Re: TTS Tattersall's
There seems to be huge sell orders but the price isn't moving much either way. Obviously there are still enough buyers to take up the slack. I've got an order in for a few cents below what it is trading for now just in case it drops a bit during the day.
There seems to be huge sell orders but the price isn't moving much either way. Obviously there are still enough buyers to take up the slack. I've got an order in for a few cents below what it is trading for now just in case it drops a bit during the day.
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Re: TTS Tattersall's
This is my first post. Just wondering what investors think about
Tattersalls for a long term hold, any ideas?
good luck
billy monday.
This is my first post. Just wondering what investors think about
Tattersalls for a long term hold, any ideas?
good luck
billy monday.
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Re: TTS Tattersall's
there is a clear view in the marketplace that TTS is heavily overpriced - mainly due to mum & dad types 'just having to have some' - and i suppose the general success of pure gaming stocks in aust. - until they have the diversity and can prove their profit making ability, they are a 'dont touch em' in my book.
there is a clear view in the marketplace that TTS is heavily overpriced - mainly due to mum & dad types 'just having to have some' - and i suppose the general success of pure gaming stocks in aust. - until they have the diversity and can prove their profit making ability, they are a 'dont touch em' in my book.
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Re: TTS Tattersall's
Son of baglimit,
yes in some ways it might be like that, i will just watch and wait.
thanks.
Son of baglimit,
yes in some ways it might be like that, i will just watch and wait.
thanks.
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TTS
Double Bottom????
Having a lookey at TTS & there could be a possible Double Bottom developing...
If it breaks the neckline we could see it rising up to $3.25 or so...
Fundamentally I have noticed people 'bagging' it, but technically definately worth watching for a poss short term trade...
I watched TOL back in Feb form a double bottom that really payed off once it broke the neckline!!!!
Double Bottom????
Having a lookey at TTS & there could be a possible Double Bottom developing...
If it breaks the neckline we could see it rising up to $3.25 or so...
Fundamentally I have noticed people 'bagging' it, but technically definately worth watching for a poss short term trade...
I watched TOL back in Feb form a double bottom that really payed off once it broke the neckline!!!!
