IPO market observations

A volume of ‘non deal’ roadshows have been doing the rounds as companies and their vendors look to take advantage of the 2015 IPO window. Last week saw vehicle fleet leasing, fleet management and diversified financial service Eclipx Group (ASX: ECX) raise $250m. Shares in Eclipx rose 17.4% from its offer price of $2.30, finishing at $2.70 for the week. Chris Stott, CIO at Wilson Asset Management, says from the companies he has seen there remains reasonable quality, however, he anticipates the post June 30 period to see a greater volume of deals come to market. Stott says the price expectations appear to be pitched at reasonable levels and specifically in the case of Eclipx a 'fair offer' has helped the post listing performance. In this video Stott explains why they were attracted to Eclipx and have followed the IPO with more share purchases on market.