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...

Unlock all stories
free for 10 days

Trustworthy, balanced journalism every day from our growing team of New Zealand business reporters and commentators, plus more in our weekend magazine section, The Life.

Instant News Alerts based on keywords you choose or journalists you follow
Our Daily Digest of all stories at 6am, midday or 6pm
Comprehensive business and markets coverage
News via email, web and Apple/Android apps

Try for 10 days without paying and if you’re not convinced cancel with just two clicks.

Find out more

Subscribe now

Name

E-Mail Address

Password

Confirm Password

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Cardholder's Name

Card

You will be charged in 10 days unless you cancel beforehand. We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service {{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Or Subscribe with Google

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Law & Regulation

Juice magnate Lepionka sues lawyers for 'negligent' advice

Greg Hurrell | Tue, 05 Jul 2022

Businessman Stefan Lepionka's negligence case against Gibson Sheat will be split in two, with the law firm's countersuit to be heard first, the high court has ruled.

Property

George Kerr's Pyne Gould receivership continues

Victoria Young | Tue, 05 Jul 2022

Court action continues in the UK, while receivers have already clawed back $8m for the BNZ by selling South Island land.

Opinion

Don’t cut off Māori landowners’ forest options

Te Kapunga Dewes | Tue, 05 Jul 2022

Well-intentioned academic and environmental critics of exotic forest planting are standing in the way of one of the few economic opportunities available for the use of marginal Māori land.

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

Subscribe now

Or Subscribe with Google

Not convinced yet?

Your company has a subscription

Team