Yovich & Co. Weekly Update - 25 June 2014
Jun 25, 2014 | Commentary Offers
This Week's Themes
The NZX was down half a per cent with the tech stocks and the retail sector weighing on the market.
The Australian market reacted positively after news that the U.S. Federal Reserve would remain with supportive monetary policy for the foreseeable future.
The Fed’s announcement obviously also helped U.S. markets soar to record levels. The Dow has rallied 31% over the past year and the Dow is up 15%.
The NZ Dollar remains very strong after the Reserve Bank followed through with their plan to continue to raise rates throughout 2014.
Scales Corporation Limited – Initial Public Offering – Demand Date – 2nd July 2014:
The Scales Corporation Limited (“Scales” or the “Issuer”) Investment Statement and Prospectus (dated 20 of June 2014) can be viewed at http://scalescorporation.co.nz/prospectus/ and relates to an initial public Offer of ordinary shares in Scales. The Investment Statement contains important information about the Issuer and the Offer (including about risk in the “What Are My Risks?” section) and should be read carefully before deciding to invest in the Offer. There is no public pool for the Offer. If you are interested in purchasing shares in Scales Corporation by way of a firm allocation of shares please contact us at your earliest convenience to register your interest.
Scales is a diverse agribusiness with three operating divisions, Horticulture, Storage & Logistics and Food Ingredients. Scales, under the Mr Apple brand, is New Zealand’s largest integrated apple grower, packer and marketer: Mr Apple has 1,037 ha of planted apple orchard (of which it owns 68%), making it the largest apple orchardist in New Zealand. In 2013, Mr Apple exported 24% of New Zealand’s total apple production. Scales is also New Zealand’s leading independent cold storage and logistics business and provides essential supply chain services to major perishable food export industries, including cold storage, bulk liquid storage and international logistics services.
Mighty River Power Capital Bond Offer:
Mighty River Power are issuing an Unsecured, Unsubordinated Capital Bond with a minimum interest rate of 6.8%. Applications close on 8 July and we have copies of the prospectus and applications available for clients who wish to apply for an allocation. Please contact us to discuss this offer and the process of applying.
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