PE-backed Metro Glass gains 5.9% on NZ debut
Shares in Metro Performance Glass - the New Zealand glassmaker whose backers include Crescent Capital, Anchorage Capital and Sankaty Advisors - gained 5.9% on its first day of trading following its NZ$244.2 million ($227 million) IPO.
Shares reached a high of NZ$1.8 from the issue price of NZ$1.70 before settling back to NZ$1.77. Metro sold 143.7 million shares at the issue price, which was set at the lower end of the indicative price...
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