From the OZ... the finance writers have a diversity of views about the MYOB IPO
Justin Milne has been drafted as chairman of MYOB. Source: News Corp Australia
Shares for MYOB are now looking likely to price at around $3.70 and may even go higher, in what is the latest market feedback on the company’s bookbuild.
Earlier today, sources close to the deal were believed to have told investors the deal range had narrowed to between $3.50 and $3.70 per share.
However, now it is understood that brokers are estimating that the deal is more likely to price at between $3.70 to $3.80 per share.
The situation is unfolding through the afternoon, with the bookbuild to close at 5pm.
It is understood that the price of the deal will be announced tomorrow.
It comes as the bookbuild for the initial public offering swings into action through joint lead managers UBS, Citi, Bank of America Merrill Lynch and Goldman Sachs.
MYOB, owned by Bain Capital, had been seeking to raise between $831.7m and $833.8m by offering shares at between $3 and $4 each, valuing the company at between $1.9bn and $2.26bn.
