I think at $1.78 they will. Morningstar came up with a fair value of $2, so at a $1.78 and a pretty fancy dividend they should get enough takers.Tuesday will determine whether the Latitude float is on or off I am thinking....or Wednesday at the latest. I am unsure if the price cut to $1.78 will get investors interested enough.
The $3.2bn float of Latitude Financial Group has been pulled.
It comes after the bookbuild for the deal closed Tuesday and the company was set to list on Friday.
Earlier in the day, Latitude sent a message to the market for its initial public offering suggesting that early indications of demand exceeded its offer size.
This was assuming that $330m of the deal is allocated to retail investors.
Retail investors had been asked to confirm their broker firm allocations over the course of Tuesday.
It comes after Latitude Financial Group on Monday repriced its initial public offering to $1.78 per share in a move that will see the business list as one with a $3.17bn market value.
The raise size was also scaled back to about $1bn.
more to come
I was a bit sceptical when I saw the demand exceeds stock message - sounded like a bit of a desperate attempt to generate confirmed orders ......Demand exceeds offer size to pulled in under 6 hours.
Just shows how jittery things are despite markets at almost all time highs and lows interest rates.