What do you think about this?
For me, it really stood out that Jaakko Saariluoma is hosting the company presentation event and that “Finland’s top artists will also perform on stage.” I would assume there won’t be many serious investors present, but rather more of the general public and passers-by, as this event is being held at Narinkkatori. (Which I also consider a somewhat strange choice of location)
Furthermore, the entire business model of this company is not on a very stable foundation, and in my opinion, it’s too early for an IPO, as the company’s turnover is only 4 million and no sudden growth is expected.
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Now that’s big-time stuff. With a 4 million turnover, these guys even have chauffeurs and everything. 
I’m eagerly awaiting the figures and valuation. 
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If this makes it to the stock market, then we’re definitely on the home stretch of a bull run 
In itself, it’s a pretty fun concept, and versatility would do the stock market good…
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Don’t they always emphasize that First North is not a stock exchange? 
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Revenue and profit are decreasing, but the valuation is closer to 11 million. Of course, 3 million in cash will be received, and lock-ups will end at 6, 12, and 18 months, according to certain percentages. Personally, I prefer Titanium’s 5-year lock-ups… No comparison has been provided for H1 from last year. One guy still owns over half of the shares after the offering. I’m not going to bother reading the detailed prospectus, but short-term debt of over a million seems a bit odd, and there’s no long-term debt at all. EV/EBITDA is not a catastrophe, but I’ll stay and watch.
Not going forward, but I guess they’ll list this even if only anchors participate…
Even Inderes has decided to skip boosting this offering?
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I’m a bit afraid this listing will fail. Even Smile, which was a growing and stable company, got rejected. I still hope it makes it to the stock exchange, because as Emmainen said, diversity on the stock exchange is good.
This kind of communication to investors during the IPO (initial public offering) phase might backfire terribly if even one thing goes wrong, assuming the company even makes it to the stock market… It reminds me of the party-like IPOs of Rovio and Next Games.
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Hello,
On page 54 of the company prospectus, the content of the balance sheet is explained in a bit more detail. Due to the nature of our business, short-term liabilities include advance payments from tickets purchased by customers during the season.
From the Company Prospectus:
Rush Factory’s short-term liabilities primarily consist of advance payments of 685 thousand euros and accrued expenses of 190 thousand euros. The advance payments consist of advance payments recorded from ticket sales for events yet to be organized. Accrued expenses mainly consist of payroll accruals and accrued income tax liabilities. Accounts payable have been paid on time, and the Company does not have significant overdue accounts payable. Other interest-free liabilities mainly consist of seasonal taxes.
Regards,
Mika Metsämäki / Commercial Director, Rush Factory Oyj
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Welcome to the forum! It’s great to see company representatives among us investors. See you at Narinkkatori, and I hope your listing is successful! 
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It’s great that a company representative is present. Will there be a video or report about the offering with Inderes? It would greatly help since I can’t make it to Helsinki!
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After tomorrow’s event, an introductory video will be added to our website, along with an opportunity to ask questions to the company’s management if anything remains unclear.
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I read that you would use the grant money to develop product concepts. What is a typical roadmap when developing concepts? How much has been spent on developing the latest event concepts? And what is the typical timeline for the roadmap? I would like to get a sense of the nature of the upcoming year. @Metsamika
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Your website states that “the share issue is at least moderately priced.” Could you elaborate on this a bit? It’s a rather bold claim.
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The culmination of the trash rally. The fact that companies like these are listing is a sign of the end of the boom times.
It’s nice to see the company itself commenting here! I was also surprised by the company’s rather bold comment on the IPO pricing.
The thought of the end of the boom probably comes to mind for many (as happened with mobile gaming company IPOs) but let’s try to keep the discussion and argumentation here professional. If a case is shot down, let’s do it with facts and good arguments, please!
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The same could apply in the other direction. Hype is pointless if there’s no real basis. If a company’s listing advertisement aims specifically to appeal to the “anorak crowd” (common people), then there’s some reason to criticize.
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Hey @Metsamika
I couldn’t find the video anywhere, even though I tried looking for it. Can you link it? Sincerely: interested in the IPO.
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You can find a video of the event on Karo Hämäläinen’s Twitter. It seems things didn’t go quite as planned. It would, of course, be nice to have a bit more variety in companies to exchange, but it doesn’t look very strong right now…
https://twitter.com/KaroHamalainen/status/1054689617683902464
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In the company’s defense, that event probably only started at 5:00 PM, and that Twitter video came out during the day when the event hadn’t even started yet. I don’t even know if anyone was there at 5:00 PM either
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Yeah, well, it’s nice that there’s some action… These small outfits should really commit to these things with some 5-year lock-ups, because right now it smells a bit like they’re trying to do some IT boom setup and cash out. What’s the point of ending those lock-ups within 6, 12, and 18 months if you believe in the company and its growth?
If I were listing something myself, I’d put myself on a 10-year lock-up. Not that it matters, you can still play with ownership through all sorts of maneuvers when you still own the majority of the company, but it would inspire a bit more confidence. Did anyone really think that old owners could dump all their shares after 6 months without the share value dropping to zero?
This whole thing hasn’t been planned through to the end.
I wonder if salaries were frozen at a certain level and what level they were, like with the Titanium heroes? Not that it matters, the rationality of their Investium acquisition and that outrageous price still hasn’t been clarified. Well, it was probably a bit of a forced move when UB bought the Finnish brokerage cowboys. Has Inderes at some point asked the Titanium folks about that deal and received some proper answers, not just political hedging and circling?
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