Initial Public Offer (IPO) was all the rage a few short years ago but that seems to have changed, at least for the time being, with prices of the five of the last IPO underwater, Regency Petroleum is the exception with the stock trading consistently above the $1 IPO price.
R.A. Williams Distributors’ issue of 400 million shares to the public at $1 each in July, seems set to follow the fortunes of recent offers that enjoyed minimal oversubscription. The company reports that all reserve applicants will get the full amounts offered and the public will get the first 5 million units and 56.01 percent of any excess. While the issue successfully raised the amount needed by the company it is not a resounding success in terms of following.
The company will have to improve considerably on the financial results to April to have a sustainable bounce in price.
RA Williams set for a torrid listing
August 14, 2024 by
