It’s going to be really interesting this ASX listing, not a capital raising, but AMP have got around 20M shares to offer to Australian investors, it might as well be an ‘IPO’ then by any other name.
For those whom haven’t caught up, AMP have to sell because they got dumped by the Super Fund and are moving from active to passive portfolio management, lucky Australians.
http://www.goodreturns.co.nz/article...ve-stance.html
Analyst price targets for ATM presently range up to 92c, and a hypothetical book build would be higher than those price targets.
Should be a fascinating watch to see how competitive it gets for that block of shares, a2mc is a very high profile company in Australia indeed, and a lot of funds are still diversifying away from mining interests.
A2mc are working with Goldman Sachs for the listing, one would presume that AMP are presently working hard behind the scenes with their Australian broker also.
I would not be surprised to see ATM list on the ASX shortly at over 80c actually.