Interesting to note that when they tried to float this back end of last year, Bell Potter were handling it on their own and prepared to underwrite it in some of the poorest market conditions of recent years. Now, market conditions have obviously improved, and they've got Shaw & Partners into the equation instead of underwriting it, but I take some confidence regarding how they were previously prepared to fully back it.
Pretty clean structure too, backed by the 50% voluntary escrow commitments.
Will put in one bid, unsure about a second as yet.
IPO - PKS Holdings Limited, page-7
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