Investore stags 8.7% on listing

Mon, 11 Jul 2016

By Pattrick Smellie July 12 (BusinessDesk) - Shares in Stride Property offshoot Investore Property spiked 8.7 percent from their offer price of $1.49 to $1.62 in the first 20 minutes of the newly listed company's shares commencement of trading on the NZX this morning. Some 3.26 million shares changed hands in early trading. Still 19.9 percent-owned by Stride, the Investore float raised $189 million in a bookbuild that priced the shares at the top of end of the range of between $1.37 and $1.49 a share, which saw Stride shareholders issu...

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