The objections that certain investment bankers have made about the new ASX BookBuild Facility are sounding increasingly hollow, given recent placements
OnMarket
The objections that certain investment bankers have made about the new ASX BookBuild Facility are sounding increasingly hollow, given recent placements. High profile raisings recently undertaken for the likes of Mayne Pharma, DUET, CFS Retail and Ansell appear to be following the ASX BookBuild playbook. These bookbuilds had a number of familiar attributes: 1.They were conducted during market hours, while the company is placed in a trading halt; 2. Company announcements detailing the use of funds and size of the deal were made public at the commencement of the bookbuild; and 3. Variable price offers were used for Mayne Pharma and DUET; It is also interesting to note wealth management divisions of the banks are offering shares in companies that are not covered by their equity research teams. Yesterday's raising by UBS for Mayne Pharma was a good example of this. Remaining article on our blog: (VIEW LINK)
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At OnMarket, we are all former capital markets professionals who thought there was a better way for companies to raise capital, so we provided the know-how behind the technology that powers the world's first exchange-hosted capital raising platform: ASX BookBuild. This platform gives companies control over pricing and allocations combined with the all-of-market reach of an exchange.
Then, in our quest to bring companies and investors closer together, we built OnMarket - the world's first free-access portal into capital raisings.
We are strong believers in the power of technology to transform capital markets and we believe that democratising access to capital raisings via technologies like ASX BookBuild and OnMarket is a giant leap in the right direction.
More information can be found at www.onmarketbookbuilds.com.
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OnMarket
At OnMarket, we are all former capital markets professionals who thought there was a better way for companies to raise capital, so we provided the know-how behind the technology that powers the world's first exchange-hosted capital raising...
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No areas of expertise
OnMarket
At OnMarket, we are all former capital markets professionals who thought there was a better way for companies to raise capital, so we provided the know-how behind the technology that powers the world's first exchange-hosted capital raising...
Expertise
No areas of expertise
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