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AUSTRALIA'S INCITEC PIVOT SATISFIED WITH OPENING PRICE ON ASX.
AsiaPulse News, July, 2003
MELBOURNE, July 28 Asia Pulse - Australia's largest fertiliser company, Incitec Pivot Ltd (ASX:IPL), said today it was very satisfied with its opening price of A$14.00 when it debuted on the Australian Stock Exchange today.
At 1141 AEST, Incitec Pivot shares were at A$15.05 on a volume of 134,200.
"It's great to see there's such a strong demand for the stock," Incitec Pivot managing director and chief executive officer Greg Witcombe told AAP.
Independent expert Ernst & Young Corporate Finance assessed the value of the shares at A$10.42 to A$12.53.
There was no new issue of shares for the float.
Explosives and chemicals firm Orica Ltd owns 70 per cent of Incitec Pivot.
The other 30 per cent was owned by farmer...
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