Navra Shares - When will the company float?

I purchased a block of Australian Navra Shares when they were released (was it July 2003 – I think)? – I must dig out my share certificate!

Anyway, as I understood it when the shares were released, Steve Navra’s plan was to float the company at some time in the future.

Doing a search on this forum, I note that Steve Navra’s participation in this forum has slowed down due to the Invested site – of which I am not a member.

My Q is - does anybody on this forum have any knowledge to what likely timeframe the company that issued the Navra Shares are intending to float? - Or is it still off the radar.

My regular share portfolio that I manage myself has been going gangbusters, whereas I have received the odd email over time from Navra Shareholders trying to sell their shareholding for the price that they had purchased them for back when they were issued.

If Steve or anyone who is a member on Invested can provide an update that would be grand!

wombat
 
No idea on listing, but I reckon they'd have plenty on their plate with the US fund at the moment and showing a negative result in their site for 2006 is probably not a huge promotion for a near-future float - though I expect that this figure doesn't explain the full picture (with profit distributions).

I have noticed their fund results have been down in 2006. I was wondering if someone in the fund could provide an internal view.

Cheers,

Aceyducey
 
The last time I saw Steve present it seemed the float was still some way off.
The first step for the company is to make a profit and pay some consistent dividends to shareholders - which would then make the float a more attractive option.

This financial year both funds are using the quarterly fee calculation method instead of yearly, so hopefully that will show on the bottom line next year.
 
Wombat, why dont you phone Steve direct and get a definative answer straight from the horses mouth so to speak?
 
Wombat, why dont you phone Steve direct and get a definative answer straight from the horses mouth so to speak?

Steve is currently in Europe (has been for the last 2 months) - so I don't suggest calling him just now.

If you attended the information sessions for investors a couple of months back you would have heard them outline some plans for the next couple of years, including increasing FUM to around $300M. By this time they would expect to be showing a good income (which would also mean dividends for shareholders), which would be used as the basis for valuation for listing.

Perhaps for more detail now, you could speak to someone at NavraInvest ... http://www.navrainvest.com.au/index.asp?content=contact
 
Back
Top