I would be extremely happy if the closing price is $2.35.. That would equal 17.5% stag on the first day..
To be honest, I doubt it will go that high on the first day. I sense that this would be very similar to Healthscope.. The fund managers who want to buy on market will use a scare tactic by putting a lot of selling pressure on open.. The nervous nelly will get scared and sell at open, keeping the price around the float price..
As the day goes on, the selling pressure started to weaken as the fund managers would need to buy back more than what they sold.. We'll see it close around 3-5% on day one and creep up from there..
Of course this is just my gut feeling.. If the price do go up 17.5% on day one, I for one will be taking some profit off the table.
