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 Originally Posted by kiwitrev
The desperation of the incompetents at the NZX is laughable but in the end, tragically is destructive for the future of the NZX. Another 1454 mugs to the slaughter, courtesy of the misfits at the NZX.
"Despite this, there is investor appetite around the sector, and according to the CBD chairman 1454 new shareholders who took part in the IPO process, implying an average holding of $6,800.
This is a good time to mention a major flaw in CBD’s IPO structure - there is no escrow to stop major shareholders from dumping their shares.
Usually in IPOs there is a commitment for major stakeholders to hold on to their stock for at least 12-months."
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