Moa float's $1M public pool scaled after oversubscription ahead of today's listing

Mon, 12 Nov 2012

By Paul McBeth Nov. 13 (BusinessDesk) - Moa Group, the boutique beer maker doing New Zealand’s first initial public offering of the year, will scale its $1 million public pool of shares after the offer was oversubscribed ahead of listing today. The company raised $16 million, $15 million of which came from institutional investors and clients of NZX firms, and a further $1 million from the public, which was overbid by 124 percent, it said in a statement. The shares, sold at $1.25 apiece, will list at midday in Wellington. Priority was given...

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