My Food Bag shares fall 5% on NZX debut

The initial public offer raised $340 million as new investors bought existing shareholders out of the majority of their holdings.

Dan Brunskill

Fri, 05 Mar 2021

New Zealand’s biggest initial public offer in six years got off to a disappointing start as My Food Bag shares opened at a 5% discount to the initial public offer price.The shares, which had been priced at $1.85 in the public offer, opened on the NZX 5.1% lower at $1.76.Before trading began, chief executive Kevin Bowler said that he won’t be watching the share price too closely and will stay focused on looking after customers and running the company well.“I think the share price will follow good results,” he said. &ldquo...

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