Inghams Enterprises repriced initial public offering is understood to have drawn a strong level of support from prospective investors, with most of the bids from retail brokers being scaled back.
It is now understood that about $200m worth of stock has been allocated to retail investors, with large orders from about two institutions for about $50m worth of stock each and a $150m commitment from Australian Super.
Earlier, it was expected retail investors would account for as much as $350m, prompting some to question whether vendor TPG Captial would proceed with the listing.
It comes after yesterday, vendor TPG repriced the IPO for the poultry producer to 12 times its forecasted annual earnings, taking its market value to just under $1.2bn and the raise size close to $600m.
Shares are being sold at $3.15 each for the listing on November 7, with the bookbuild concluded today.
Sources close to the deal said the book was almost four times covered.
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