Investors ponder whether Tegel can 'do a Scales' after pricing IPO near bottom of range

Tue, 19 Apr 2016

By Jonathan Underhill April 20 (BusinessDesk) - Tegel Group Holdings' share sale has at least some passing similarities to that of Scales Corp, which went public in 2014, selling shares at the bottom of its range in an IPO that left its major shareholder with a significant stake. The question some investors are asking is could Tegel also over-deliver. Scales stock has more than doubled since its 2014 initial public offering, delivering a massive gain for Kiwi private equity firm Direct Capital, which had acquired most of the company three...

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