Sydney Airport’s book build for the shortfall of shares for its $2bn equity raising is covered at $5.20 per share.
It is also 80 per cent covered at $5.25 per share according to a book message sent out to investors.
Numerous bids have also been received with price points above that level, institutional investors were told Thursday.
It comes after investment bank UBS launched a renounceable entitlement offer for the airport to provide balance sheet strength amid COVID-19 disruptions.
A book build was launched for the shortfall of shares not taken up by institutional shareholders, which was 20m shares worth $93m at the offer price.
The floor price for the book build that enables new investors to take up stock was $4.56 per share and bids were being accepted in 5c increments from $4.60.
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