Affinity-owned Tegel gains on trading debut after $205m IPO
Shares in Affinity Equity Partners-owned Tegel Group Holdings closed up 5.2% on the first day of trading in New Zealand following the poultry producer’s NZ$298 million ($205 million) IPO. As of May 4, the company was trading at an 8% premium to the offering price.
Tegel sold 192.8 million shares at NZ$1.55 apiece, the bottom end of the indicative range, through a dual offering in New Zealand and Australia. It equates to a market capitalization of NZ$551.7 million....
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