I’ve been asked too many times what I think of Xero’s valuation — whether it’s in the last few months, or in the years gone by. I don’t have much time, so decided to set myself a time and information limit and give it a go. So let’s walk through how to do a valuation: …
Author Archives: Lance Wiggs
Press Release: Punakaiki Fund extends offer period and lowers fees
Unfortunately we have not managed to achieve the total we require by today, the original close date for Punakaiki Fund. This is hard. We have chosen therefore to both extend the offer period, and to amend the offer in favour of investors, in order to give people more time to consider the offer. The press release …
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The High Risks of Investing in Electricty
The government’s advertising for the Meridian Share Offer is remarkable for its blandness: Aside from the pictures and the words underlined in red, all of the advertising is selling a deal. Invest $1 a share now, pay a maximum of $0.60 later and make an ‘implied gross dividend yield of 13.4% in the first twelve …
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Let’s focus on the prize – the $40 billion prize.
Following on from the previous posts on the America’s Cup theme, and how we should be taking advantage, I appeared on TV3′s The Nation this morning, sitting alongside Tim Smyth from Core Builders Composites. The show will eventually be found on The Nation’s on-demand page. We had a good chat before, during and after the show, …
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Did Oracle USA cheat to win? Should our businesses do so as well?
(I’ve also updated the original post with the below) As expected, Oracle USA stormed home to win the last race and the cup, and well done to them, and to everyone in the regatta. However. A big word that, However it seems that emerging although unverified news is that that Oracle may have been using an …
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New Zealand’s annual $2.1 billion funding gap
Hi Lance, $22.5m of angel investment in last 6 months – and that’s just the deals captured by YCF. Throw in Pioneer’s new VIF $150m fund and things aren’t too moribund. That’s a comment I received via email after a comment I made about the poor amount of funding in New Zealand on the Nine …
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Now the real race begins
Update Saturday 28th I appeared on TV3’s The Nation this morning, sitting alongside Tim Smyth from Core Builders Composites. We had a good chat before, during and after the show, and he had read the post below (not the update) and agreed with the thesis that the greater race is how to step up the …
A website with Attitude
Today saw the launch of AttitudeLive – a highly professional website by and for people living with disabilities. It’s the brainchild of Robyn Scott-Vincent, who with her team from Attitude TV have already transformed the way media portrays the sector. Attitude TV and AttitudeLive bring the premise that they should be telling stories “for and about …
Reading Safety
Working safely, wherever you are, starts with identifying hazards. This is generally just before a job, more formally when planning a larger job or on a safety walk, or, ideally, just part of what you do day to day. Those who have been through the recent earthquakes in Wellington are rapidly adopting, for example, the …
Punakaiki Fund announces IPO, lodges document with FMA
Today’s press release. The Offer Documents are avaialble on the Punakaiki Fund website. They are lodged with the FMA and now visible on the Punakaiki Fund document page on the companies office website. Chris and I are going to be touring the country over the next few weeks – so look out for us. If …
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Merger and Acquisition led growth
One of the findings, back in 2001, from McKinsey’s Evergreen study, was that there are a niche of companies that successfully grew through making a series of acquisitions. We called them M&A-led-growth companies. (M&A stands for Mergers and Acquisitions) There were a few caveats. Firstly, the pre-requisite was that the acquiring company was already a …
Double Vision – the Z Energy Offer Documents
Writing and issuing a Prospectus and Investment Statement is hard. Every line, statement and inference needs to be checked, rechecked and verified. Every fact stated needs to be backed up by tangible evidence, and financial statements verified by auditors. The promotors and directors sign off on all of the documents, and given that some people …
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Living forward
When I was young I thought it was normal that my grandparents’ (Edna and Grev Wiggs) house looked like ours. They had a few interesting items scattered about, but otherwise all the equipment and so forth was up to date. As I grew older I increasingly understood that this was not normal. That Japanese doll-set …
The standard you walk past is the standard you accept
From Z Energy’s investment statement and prospectus: As part of Z’s commitment to the “Zero Harm Workplaces” programme I have pledged to take personal responsibility for health and safety as a vital part of my business. That’s Z Energy Chief Executive Mike Bennetts. This stuff really does start at the top, and from that statement …
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Building up Auckland
A few years ago Auckland City was, to me and many others, a completely unliveable place. However over the last few years a critical mass of development, helped by a critical mass of people living downtown, has transformed the place. It’s now a fantastic place to live, and so I do so. I walk everywhere, …
Lance Wiggs 