Australian-based Internet media company Spike Wireless has ended a particularly inauspicious initial public offering with only a two cent premium on its AUS$1.45 issue price.
Spike's listing on the Australian Stock Exchange coincided with a gloomy
day on international financial markets as interest rate fears caused the
ASX's All Ordinaries Index to close half a percent down.
PlaneBuzz: December 2006 Archives::
Dec 5, 2006 Thousands of travelers remain stuck in the airport. .. Shares of the IPO were priced above the $15-$17 expected range at $18,
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The company had sold 24.6 million shares to clients including 3000 retail shareholders, and the first day saw 14.7 million shares sold. The company is now valued at AUS$128 million (US$82 million) with 28.2 percent in public hands.
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File Format: PDF/Adobe Acrobat - View as HTMLYour browser may not have a PDF reader available. Google recommends visiting our text version of this document.Century issues in a small box, noted Australia 1937 Crown & 1966 silver 50c (11) . . Accumulation loose in a shoebox, some Australia noted including 1937
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The performance of Spike carries on a patchy record for Australian
companies listing on the ASX, with ecorp, MYOB and Reckon starting with
strong premiums, but GPS Online.com and now Spike faring less well.
InternetNews Realtime IT News - HarvestRoad IPO Closes Early::
Spike Stuck in Australian IPO · Australian Content Firm to Float · Spike's IPO Looks Sharp for Australian Investors. For more stories on this topic:
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Because keywords are sold through online auctions, prices often spike for those .. by users for a 60 day evaluation period, similar to an IPO evaluation.
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The Australian floats keep on coming, however. Alice Springs-based betting
operator International All Sports closed its offer eight business days
early due to excessive demand, and content provider HWW (formerly Horan
Wall & Walker) also said its IPO would be oversubscribed.
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Spike Stuck in Australian IPO