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cerhob

18,561 Posts.

20/10/14

16:37

Post #: 14150822
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Originally posted by dimaz11 ↑

The government generally gives a wide range for IPO pricing.. This is to cover their arses so that they don't get blamed for either trying to sell it too cheap / too expensive.

The instos are not idiots.. There is no way they will be bidding at the higher end of the pricing, let alone above that.

In scenarios where there are heaps of supply, the instos will always bid at the lower range first and almost guaranteed to finish at lower-mid end. It's different when there is limited supply of IPO shares (e.g. Spruson).

The feedback that I've got from a number of brokers is the lower-mid end will attract a lot of interest. Almost none of them would want to invest at the higher end.

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So it's only brokers that have to bid in dollar value - institutions bid a price. Correct?
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