Collins shares drop 8% on trading debut
Australian fast-food group Collins Food, which was taken public by Pacific Equity Partners (PEP), saw its shares drop 8% on its trading debut. This came despite the offering being priced at the bottom of its A$2.50-$2.92 range.
According to domestic reports, Collins' shares opened at A$2.48 and closed at A$2.30, representing an 8% discount. The Australian notes that the wider market fell 1.3%. Collins manages all 119 KFC outlets...
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