Re: Typical
Philip Carse, analyst at Megabuyte, said: "The primary objective of the IPO seems to be to tidy up a balance sheet weighed down by debt, shareholder loan notes and swap liabilities. punt the business on to some suckers now the PE boys+girls have had a bonanza pay day from loading it up with eye watering levels of debt that will only ever be cleared by a pre-pack Administration (blue prints available - please ask seller for details)."
Frankly this is not a screw up - this is entirely intentional. Borrow money to buy business, load up with debt secured on said business (that has no recourse to shareholders), use money from loans to pay out massive special dividend to PE owners to pay off initial loans and enrich owners, sell business + debt through IPO, leg it before the whole bloody lot implodes from said debt. This PE scam has been going on for at least 15-20 years now.
Why is there no Scrooge McDuck "$$$$$" Icon?
Biting the hand that feeds IT
