George Soros is set to emerge as one of the offshore investors in the much anticipated Nine float. Demand for the IPO is reported to have been somewhat soft with the final $2.05 pricing set at the bottom end of the target range. 70% of the offer is said to have been taken up with Australian investors including Airlie Funds Management, Perpetual, Colonial First State, AMP, BT and Infinity. Many of the institutional investors are believed to have placed orders for shareholdings worth about 3 per cent. Nine's float will be keenly watched by the investment bank community, which has expressed concerns that a repeat of retail group Myer's botched float four years ago will lead to the IPO market freezing for another extended period of time. Full Report here in The Australian (VIEW LINK)
I have 13 years experience in equity markets and financial media. In 2013 I Co Founded, Livewire Markets with Tom McKay. Our vision is to be the #1 source of investment ideas in Australia. Opinions expressed are my own.