Confirmed and indicative subscriptions stand at around $59 million or 94 percent, heading into the final five days of the Commonwealth Brewery Limited (CB) initial public offering (IPO).
Of that number, Michael Anderson, President of Royal Fidelity Bank?& Trust, told Guardian Business in an interview on Friday that $38 million, or around 60 percent of the offer, was confirmed. Interest expressed by institutional and high net worth individuals accounted for another $22-$23 million, Anderson said. He added, however, that he was uncertain how to interpret what the early levels of confirmations and interest — an historic anomaly — will mean for the final week of IPO sales.
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