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IPO for WTC-Ironman & Infront Sport&Media
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Apparently Wanda is doing the job to IPO their sport business in the US.

https://www.iol.co.za/...ion-sources-18782255

500m$ expected for their sport entity, including WTC (IronMan), InFront Sport & Media, and maybe some others items.

WTC was bought 650m$, so probably they were not successful getting a good price via a direct sale...

They clearly overpaid for WTC, and certainly this is not their only business mistake. Apparently Chinese government is pushing them (and other chinese groups "not in good shape") to clear their positions, and get a bit of cash.
Last edited by: Pyrenean Wolf: Jan 16, 19 15:04
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Re: IPO for WTC & Infront Sport&Media [Pyrenean Wolf] [ In reply to ]
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Good bye Kona, hello highest bidder for IMWC.

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Re: IPO for WTC & Infront Sport&Media [Pyrenean Wolf] [ In reply to ]
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Signally a global recession?
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Re: IPO for WTC & Infront Sport&Media [thatzone] [ In reply to ]
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The situation of many Chinese investments groups is .... ahem... quite difficult, with a lot of crappy investments.

If this was going to settle the same way as the 2008 subprime crisis, it would be a huge problem for everybody. Much bigger than 2008...

For now, the most crappy investments are quietly exchanged regularly between chinese groups and banks, under the control of the chinese governement, creating the illusion they are not that crappy... but they are....hopefully this will continue.

But at some point these groups need fresh cash, and selling "outside the circle" what can be sold (the least crappy) is a way to get it. Will not be surprised to see some other "non chinese" assets sold at reasonable prices (lower than their purchases).
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Re: IPO for WTC-Ironman & Infront Sport&Media [Pyrenean Wolf] [ In reply to ]
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https://forum.slowtwitch.com/...tring=wanda#p6837681


We were talking about this a couple days ago, and also keep in mind that $650 million price tag does not include a $250 million or so note that went with the sale, so closer to $900 million..

As I said in the other thread, if they think they can get a billion in an IPO, they are just crazy, and I think the banks will tell them so when the interest is not there. If they lower what they are willing to take, or sell a higher % of the companies, then maybe, but what is the endgame? I think they would just get the bad news on what it is all worth, at least now they can pretend it is something close to purchase prices..

But yes, they may have no options left, no one is willing to buy WTC anymore, at least not for anything close to even half of what they paid. They have marching orders from the boss man in China to divest, so it could be in the end a real fire sale when all else fails.
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Re: IPO for WTC-Ironman & Infront Sport&Media [Pyrenean Wolf] [ In reply to ]
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I had a nagging question about this in my mind, had seen the billion dollar raise, and now this article saying 300 to 500 million, so went back to both articles. The first one was from a year ago, so a billion was there target, and exactly a year later it is virtually cut 2/3's. I think that was a very bad year of trying to sell this stuff, and now the banks are telling them not to get their hopes up too high.

I wonder if there is a place where we can see what % they are thinking about IPOing? If 300 million is the bottom number, maybe 20% or so??
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Re: IPO for WTC-Ironman & Infront Sport&Media [Pyrenean Wolf] [ In reply to ]
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In my humble opinion WTC is not a good candidate for an IPO. IPOs are typically growing companies that expect to grow a lot more in the future. WTC is not growing much, if any, possibly shrinking. It could grow again I guess, but that would likely take some very strong management. WTC does not have that. I would guess they have decent cash flow. Really this should be bought and run as a private company.

Dimond Bikes
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Re: IPO for WTC-Ironman & Infront Sport&Media [ericlambi] [ In reply to ]
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ericlambi wrote:
In my humble opinion WTC is not a good candidate for an IPO. IPOs are typically growing companies that expect to grow a lot more in the future. WTC is not growing much, if any, possibly shrinking. It could grow again I guess, but that would likely take some very strong management. WTC does not have that. I would guess they have decent cash flow. Really this should be bought and run as a private company.

It seems that WTC's growth max'd out, it could be a stable dividend stock.
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Re: IPO for WTC-Ironman & Infront Sport&Media [ericlambi] [ In reply to ]
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Really this should be bought and run as a private company. //

Agreed, but I know the offers that got were more in line with worth, not what they paid, thus the conundrum Wanda faces. My hope is that it just gets desperate enough that they have to take an offer from someone who really wants to run this company, and has a base and future in triathlon. I know at one time Lifetime fitness was in the ring, with a few others that would be good stewards..
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Re: IPO for WTC-Ironman & Infront Sport&Media [monty] [ In reply to ]
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Would be great to have WTC managed correctly, with not too much financial pressure.
This can only happen if Wanda accept to swallow a big loss :-)

But OK, chinese groups know about big losses : https://www.reuters.com/...dUSL3N0TA2KP20141120
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Re: IPO for WTC-Ironman & Infront Sport&Media [Pyrenean Wolf] [ In reply to ]
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Could still be trying to leverage this to get a decent sale price from someone so time will tell, would be interesting to see some numbers though. As long as the gov't shutdown continues though this'll just draggg on.
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