UPDATE: Tegel shares gain 9% in NZX debut as market cheers first IPO of 2016

Tue, 03 May 2016

(Updates shares, adds comment from investors and chairman) By Jonathan Underhill May 3 (BusinessDesk) - Tegel Group Holdings, the poultry group taken public by private equity firm Affinity Equity Partners, rose 9 percent in its NZX debut as investors welcomed a business with market dominance and potential to lift earnings at home and in export markets. The shares first traded at $1.69, from its initial public offering price of $1.55, and were recently at $1.67, valuing the company at $594 million. That ranks it ahead of Heartland New Z...

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