Comvita shortfall bookbuild priced at 7% premium

Tue, 16 Dec 2014

By Paul McBeth Dec. 17 (BusinessDesk) - Comvita, the Te Puke-based maker of health products based on manuka honey, raised $24.4 million as strong demand in the yesterday's shortfall bookbuild saw investors pay a 7 percent premium to the rights issue. The 1.29 million shares offered to investors who weren't eligible to take part in Comvita's 1-for-5 rights issue received strong demand, leading to "heavy pro-rated scale for all bidders at $3.80 per share," higher than the $3.55 paid by shareholders who exercised 5.6 million of the 6.9 milio...

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