Metroglass bookbuild sets sale price at $1.70, near bottom end of range: sources

Fri, 04 Jul 2014

By Suze Metherell July 4 (BusinessDesk) - Metro Performance Glass, New Zealand's largest glass maker, will sell shares at $1.70 apiece in an initial public offering, near the bottom of the range, say institutional investors who had previously baulked at Hirepool's offer. comes after the Hirepool float fell over because the promoters’ suggestion of price was at odds with institutions. Two fund managers have confirmed the price to BusinessDesk. "I think the Hirepool offer was a turning point because it showed it wasn't that there was a...

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