TTS - Tatts Group Limited

Is anyone aware of the firms selling "Tattersalls" due to float in June/July 2005? I would like a slice of the pie.

Tattersall's

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.

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

Re: Tattersall's

Hi,

Where can I get the prospectus? I am not having much luck with ASX flotsam or jb were

Cheers
J

Re: Tattersall's

Macquarie are handling the float.

I've heard it will be difficult.

Good luck!!

Sam

Re: Tattersall's

Rang Macquarie, must be a broker client, a bank account is not sufficient. Best chance is with Tattersall's direct. Tough to buy in.

Re: Tattersall's

Yay - It appears that they have just published the Prospectus at Tatts - there is a "Shares" tab up the top.

About to read the licence to print money now :

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.

Re: TTS Tattersall's

If you ever wondered what those odd spikes on the graphs were here is an explanation:

Memories of AMP, or wrong decimal point?
By Rebecca Urban and Helen Westerman
The Age July 8, 2005


FULL DISCLOSURE
An early bid for 7500 Tattersall's shares at $40 each - a staggering 12,800 per cent higher than the original price offered to retail investors - brought back memories from the AMP listing debacle seven years earlier.

Early buyers incurred huge losses on the insurer's first day of trading, thanks to a swag of brokers who bid ridiculously high to ensure a slice of the action.

It's a strategy that professional buyers often employ. However, because opening prices are determined by the weighted average of bids sitting in the pipeline, the ploy can backfire when everybody decides to do the same.

And that's what happened with AMP, where some paid up to $45 for shares - almost twice as high as the average price that day - for a stock that closed at $23.

In Tattersall's case, the $40-a-share bidder appeared to be a lone eager beaver or, as some brokers suggested, the victim of a wrongly placed decimal point. Shares opened at a very reasonable $3.50 and closed at $3.46 on a record day in which $4.2 billion of stock was traded.

Click to expand...

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

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.

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.

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.

Re: TTS Tattersall's

Son of baglimit,
yes in some ways it might be like that, i will just watch and wait.
thanks.

Check out the 3pm-close action. That wasn't a few mum and dad investors hooking into too much viagra.

Anyone know whats going on?

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!!!!

I'll have to work out a way to backtest the viagra signal.

(note in chart below, trading for today not finished.)

Looking good today. It went up at the end of the day 

After all that battering ...it finally bounces a bit.

However, though how long will this last as the chance of TAH takin it to high court on the decision. It may go similar way as to Toll did.

It doesn't make sense that tts is going up on high vol today. Is someone interested in taking tats over? UTB trying to make it a merger of unequals?