Not sure it was too cheap , just that there is a lack of new...

Not sure it was too cheap , just that there is a lack of new floats out there and on the surface the punters think it is a yield business they can understand in a sector they don't get a lot of access to. Small float and I think there will be later raisings for purchase of new business as that is where the growth is coming from. There is only so much marine business you can buy and gain efficiencies from with larger buying power when Australia has such huge distances between ports / tourist destination so may target NSW public transport and same in other states if there are good margins and to get scale or greater use of vessels.


Aging owners wanting to gradually sell out of their business into retirement and have floated to get liquidity to do so is my thought. Nothing wrong with that but a business with a relatively small market cap is expensive to run as a listed company.

Going to be interesting to watch this business as like so many they will have growth in different areas at different times along with exchange rate risk from diesel to actual number of tourists that can afford to come to Australia.

I didn't bother with the float and will see what happens on market.

good luck to those already in.