UPDATE: Metroglass shares gain 4.1% on debut as investors chase yield

Wed, 30 Jul 2014

By Suze Metherell July 30 (BusinessDesk) - Shares of Metro Performance Glass, New Zealand's largest glass processor, advanced 4.1 percent in early trading on their NZX debut, as investors looked for easy-to-value businesses with ready dividends in a stock market busy with companies seeking funds for growth. The shares recently traded at $1.77 after having first traded at $1.75, up from its $1.70 IPO price and giving the company a market capitalisation of $327.5 million. The IPO raised $244.2 million with private equity owners Crescent Ca...

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