CBL shares priced at $1.55 in bookbuild, lower end of range

Fri, 18 Sep 2015

By Suze Metherell Sept. 18 (BusinessDesk) - CBL Corp, which sells credit surety and financial risk insurance, has had its shares priced at $1.55 in a bookbuild yesterday, the lower end of the range, as it looks to raise $90 million in new capital via an initial public offering. The offer price gives the company an implied market capitalisation of $340.5 million, below the maximum $389 million if the shares had been priced at the top of the $1.45 to $1.85 share price range. The Auckland-based firm is also raising less than the $132 millio...

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