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The [New Issues/IPO] thread - AQN $13.25

  • Last Updated:
  • Dec 7th, 2017 2:44 pm
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Deal Expert
May 30, 2005
39349 posts
1447 upvotes
Richmond Hill
jerryhung wrote:
Oct 2nd, 2017 1:48 pm
Roots IPO, anyone in? I'm afraid to buy IPO/secondary now since getting burned all 2017 long :(

Short Description: IPO of Common Shares via Marketed Deal
Price: To be determined - contact TD Direct Investing
Settlement: Expected the week of October 23, 2017.
All the money going to investors. I would have invested if it wasn't for that.
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Sr. Member
Aug 17, 2008
657 posts
209 upvotes
Reuters via The Globe and Mail

Roots sets IPO price range at $14-$16 per share, document shows


JOHN TILAK AND SOLARINA HO
TORONTO
REUTERS

OCTOBER 2, 2017
Canadian apparel company Roots Corp has set a price range of $14 to $16 per share for its planned Toronto initial public offering (IPO), seeking to raise about $200-million, according to a term sheet of the deal seen by Reuters on Monday.

Roots, known for its trademark beaver logo, rustic casual wear and Canadian-made leather goods, is expected to price the IPO in the week of Oct. 16, the term sheet showed.

But investors hoping for Roots to score another high-flying IPO debut like its bigger counterpart Canada Goose Holdings Inc may be in for a disappointment, given the company's more modest growth and broader retail challenges, investment strategists said.

In its prospectus, Roots said its 2014 to 2016 compound annual growth rate was about 14 per cent, about 2-1/2 times below Canada Goose and lagging fashion-focused retailer Aritzia Inc's 20 per cent rate over a roughly similar period.

Norman Levine, managing director at investment firm Portfolio Management Corp, cautions that Canadian listings are typically "priced to perfection," meaning selling shareholders get the best price.

"There's very little, if anything, left for the public afterwards. It takes time for those IPOs to go up should they deserve to," said Levine, who does not invest in new, untested issues.

Canada Goose, which outfits celebrities like James Bond actor Daniel Craig and expedition scientists in its heavy-duty, made-in-Canada, down parkas, has surged some 52 per cent since its listing in March. The benchmark Toronto share index has gained less than 1 per cent in the same period.

Canada Goose was an exception because it also listed in the United States, where pricing tends to be "less aggressive," Levine said. Canada Goose now trades at a forward price to earnings ratio (P/E) of 39, double its peers, and above its IPO PE ratio, Thomson Reuters data shows.

But Aritzia shares are trading about 7.5 per cent below its $16 IPO price last October and the stock trades at a forward PE ratio of just over 19.

Some strategists said that Roots' launch could also be clouded by a cut-throat retail market that has forced companies to close shop and file for bankruptcy protection, and high consumer debt exacerbated by rising interest rates. "We're not enthused about retail. We're not willing to get into what we consider a risky part of the market," said David Cockfield, managing director and portfolio manager at Northland Wealth Management. "We are definitely on the sidelines."

Roots declined to comment on the price range.
[OP]
Deal Expert
User avatar
Sep 19, 2004
20497 posts
3168 upvotes
Waterloo
As suspected, Metro's selling their ATD.B stake
https://ca.investing.com/equities/alime ... e-tard-inc

Alimentation Couche-Tard Inc.

Short Description: Secondary Offering of Class B Subordinate Voting Shares via Designated Trade
Price: $57.17 CDN per share. <- closing $58.94 = 3% discount
Settlement: October 13, 2017.
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Member
May 29, 2012
416 posts
84 upvotes
Southern Ontario
got the email at 5:26 today, checked now at 6:30, closed already with TD
Sr. Member
Aug 17, 2008
657 posts
209 upvotes
excerpt from The Globe and Mail.

"Metro Canada Holdings Inc. plans to sell 11.4 million Class A and B shares for $650-million to dealers led by National Bank Financial Inc. and BMO Capital Markets.

It will also sell in the next two days the same amount of shares to subsidiaries of the Caisse de depot et placements du Quebec.

Couche-Tard has also agreed to purchase 4.37 million shares from Metro for about $250-million.
Following the sales, Metro Holdings will own 5.1 million Class A multiple voting shares, representing 3.9 per cent of all Class A shares and about 0.9 per cent of all class A and B shares."
Newbie
Aug 17, 2011
97 posts
18 upvotes
TORONTO
Anyone in for Sienna Senior Living offering at $17.45?
Jr. Member
May 10, 2009
149 posts
18 upvotes
willdaman wrote:
Oct 16th, 2017 4:09 pm
Anyone in for Sienna Senior Living offering at $17.45?
Im considering it myself. Any one interested?
Member
Dec 29, 2007
315 posts
121 upvotes
Projek9 wrote:
Oct 16th, 2017 10:25 pm
Im considering it myself. Any one interested?
I placed an expression of interest.
Newbie
Aug 17, 2011
97 posts
18 upvotes
TORONTO
Well this is a pile of crap, I asked for 200 shares, but got allocated 100....wtf, the minimum quantity they set you can ask for is 200, how can they only give me 100??
Jr. Member
May 10, 2009
149 posts
18 upvotes
willdaman wrote:
Oct 17th, 2017 2:59 pm
Well this is a pile of crap, I asked for 200 shares, but got allocated 100....wtf, the minimum quantity they set you can ask for is 200, how can they only give me 100??
Questrade asked me how many shares of roots I wanted to purchase. Minimum is 5k so I put in 5k and I got a confirmation for buying 100 shares a few weeks later. LOL...
Deal Addict
User avatar
Dec 21, 2005
4980 posts
313 upvotes
Markham
jerryhung wrote:
Oct 25th, 2017 9:32 am
ROOTs starts trading today at $12

-6% now
$11.55-$11.16
Edit: below $10 now
:idea: :) :lol: :razz: :D

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