Forum Archive Index - August 2000

["Moose" <aorang@voyager.co.nz>]

Hi Philip,
The broker being used to lead the float is UBS Warburg.
This will be a very interesting float I am sure and the prospectus 
will make good reading.
I think however shares in the IPO will be hard to come by. The float 
is to be in Australia & NZ and can be for up to $35million. But in a 
recent newsletter to shareholders they stated that because of the 
recently successful capital raising with institutions the IPO will 
target an amount considerably less than this.  My broker has told 
me that the shares are going to go to the market at $6.50 per 
share. They have recently been trading around this amount on the 
informal market.
Axa have been issued shares at $5.70 as well as $5.00 earlier this 
year so this figure is probably correct.
I took the plunge a few months ago and bought 5000 (the minimum 
allowable holding) at $5.80. I am hoping that being an existing 
shareholder may give me some priority access to the float to 
increase this as well.
Whatever happens I think the float will be very successful. They 
have timed it well to get the benefit of the current interest in 
genomics etc and also can demonstrate they are developing a 
strong diverse stable of therapies in forestry,dairying, plant and of 
course human research.
The deal just announced with Corixa and Medicis in the States 
also demonstrates their ability to advance further their products.
They have a good website at  www.genesis.co.nz.

Regards,
Moose

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