Costa Group Ipo, page-21

This is why I just chuckle when people on these forums say shares are going to fly just because they are oversubscribed. For big ones I have no doubt they initially do, but for small IPO's, absolutely not. Everyone puts up way more money knowing that they will get scaled back.

As for any IPO that does a bookbuild based on best price, I do not bother. I wanna know my price. Great for them, bad for the investor. eg. Costa, MYOB. I still went in for MPL but should have sold went I saw the PE was around 40 and the price was like 2.40!

Anyway.. my gut feel was right.. share price slightly down by 6c.