Chanticleer
Lapped up at $5, unloved at $4.30 – Di Pilla’s year-end IPO shocker
How do you turn on sentiment if nothing has changed and at a time of the year when institutions turn off the taps?
Three chunky IPOs to end the year, three bad experiences for investors.
The worst of them, David Di Pilla’s DigiCo REIT, has shed 14 per cent in two days. It is a shocker. The deal was hot enough when it was priced a few weeks ago, the listing was delayed to last Friday (December 13), sellers turned up, buyers didn’t, and now anyone thinking about buying is reassessing their thesis wondering if they missed something in the prospectus.
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