Nine is the biggest local IPO this year

OnMarket

Nine is the biggest local IPO this year. The second largest was the $450 million of shares sold by online foreign exchange transaction business OzForex. That transaction exposed an undercurrent of anger in the market about the opaque mechanisms used to distribute stock in IPOs.Australia's small cap managers were upset by the handling of OzForex because they felt the stock was not given to its natural holders and that big cap managers who provide more brokerage commission were handed favourable treatment. OzForex was a stag's dream and judging from the turnover in the stock after listing, the stags had a field day... read more: (VIEW LINK)

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