wotifcom-prices-at-a200-as-aussie-market-slides-2

Wotif.com prices at A$2.00 as Aussie market slides 2%

The online accommodation website beats market bears by pricing at the top of the institutional bookbuild range.
May 31, 2006
In a deal reminiscent of dotcom days, the discount accommodation website wotif.com priced its IPO at A$2.00 each, raising A$172 million for the company and its founding directors.

On Wednesday, joint lead managers Macquarie Bank and ABN AMRO Morgans were getting ready to scale back orders after a two-day institutional bookbuild process prior to a listing scheduled for 8 June.

Market sources confirmed that the shares priced at the top of the bookbuild range of A$1.75 and A$2.00 despite a drop in the SPASX200 on Wednesday of 103.7 points or 2%.

The deal, which sees 42% of the company or just under 86 million shares offered to public investors, gives wotif.com a...
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