FMA satisfied with 'pre-offer' talks before prospectuses, sees no need for further regulation

Wed, 23 Jul 2014

By Jonathan Underhill July 24 (BusinessDesk) - The Financial Markets Authority sees no need to regulate how issuers and their book runners communicate with institutional investors prior to a prospectus being registered after criticism offer documents were issued too late for the aborted Hirepool sale. Milford Asset Management executive director Brian Gaynor said the gap between Hirepool's prospectus being registered and the bookbuild was just eight days, compared to 14 days for Genesis Energy's IPO and 33 days for MightyRiverPower. The na...

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