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Milford Funds reports another bumper year

Double-digit gains in management and performance fee income.

My Food Bag joins New Zealand share market

Of the approximately $342 million being raised, just $54.8m will end up in My Food Bag’s pocket, with $16.7m used to fund offer costs, $38.2m to repay bank debt, and $287.3m going to existing shareholders who are selling their shares. Fund managers Milford Funds Limited, Harbour Asset Management Limited and Investment Services Group Limited had earlier indicated they would take shareholdings greater than 5 per cent. “Their timing is good in the sense that there s an awful lot of cash on the sidelines looking for a home, and in this low-interest rate environment a 5 per cent yield is attractive,” said Pathfinder chief executive John Berry.

My Food Bag s strong marketing will help share offer, broker says

SUPPLIED My Food Bag is selling shares at $1.85 each, valuing the meal kit delivery company at about $450 million. My Food Bag’s well-known brand and extensive marketing is expected to help the $450 million meal kit delivery company get enough support to list on the sharemarket next week, even though some brokers and investors don’t think it stacks up. The company wants to raise as much as $342m through an initial public offering and list on the NZX and ASX on March 5. It’s enlisted the help of three broker firms, its mailing lists of current and past customers, and advertisements on TV and YouTube to help it market the sale.

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