Cascal IPO gets lukewarm reception
- From: Vol 9, Issue 2 (February 2008)
- Category: General
- Region: Americas
- Country:
- Related Companies: Biwater and Cascal
The flotation of Cascal in New York marked an inauspicious start to 2008’s water IPO calendar. Parent Biwater did little to inspire investor confidence in the offering.
Cascal made its debut on the New York Stock Exchange on 29 January with a market capitalisation of $367 million. The final placement price of $12.00 per share was considerably lower than the initially forecast range of $17.00-$19.00, and an unspectacular share price performance in the wake of the flotation seemed to confirm the fact that ...
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