The second-largest float of the year, ConnectEast Group, has finished its first day on the stock exchange at a 24 per cent premium to its issue price.
About 12 institutions were offered shares at 55 ¢ in an initial public offering, and will pay a further 45 ¢ in 12 months to bring the total raised to $1.1 billion. The stock closed up 13 ¢ yesterday at 68 ¢.
Loading...
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
