UPDATE: CBL shares climb 12% on NZX debut

Mon, 12 Oct 2015

(Adds broker comment) By Suze Metherell Oct. 12 (BusinessDesk) - CBL Corp shares rose 12 percent on their NZX debut after the credit surety and financial risk insurer raised $90 million of new capital in an initial public offering which saw the stock originally priced lower amid market volatility. The shares first traded at $1.74 giving the company an implied market capitalisation of $382.3 million and up from the $1.55 offer price, the lower end of the firm's share pricing range. The shares recently traded at $1.75. The offer came...

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