My source was correct as was conformed by AFR yesterday that it's priority offer was over subscribed. Reading the article below it appears my Source was right on the IPO Price too at this stage. Remember I posted this on the 12th Sept. but as I said I have decided to go smaller instead of the very big punt I was going to take. My concern is Liquidity in Australia. Lets see how all of this will pan out!!!
CBL to price towards bottom end of price range
Sep 17 2015 at 2:21 PM Updated 39 mins ago Sarah Thompson , Anthony Macdonald , Jake Mitchell
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CBL Corporation's bookbuild is likely to price towards the bottom end of its NZ$1.45 to NZ$1.85 range.
CBL Corporation's bookbuild is likely to price towards the bottom end of its NZ$1.45 to NZ$1.85 range.
The book opened at 7am (AEST) and is due to close at 3 (AEST).
At 2pm (AEST) investors were told the book was covered through the bottom quarter of the price range, with a number of large accounts still to come in.
CBL, which is based in New Zealand, is seeking to raise up to NZ$132 million from investors as part of a dual-public listing next month.
UBS and Forsyth Barr are the joint lead managers on the IPO.
CBL is a global provider of speciality insurance products with a core focus on underwriting profitability.
