Bpost misses out on summer aftermarket success
The stabilisation period following the IPO of Bpost came to end last Friday (July 19) with less than half of the greenshoe exercised after a difficult first month of trading amid volatile markets. The shares are now just below the offer price, making the firm an unfortunate outlier among a run of successful IPOs in the first half of 2013, with all the other new deals to have priced since May trading up.
Stabilisation manager JP Morgan exercised the greenshoe option over 3.8m of a possible 8.4m Bpost shares at the €14.50 offer price. The greenshoe, provided by seller CVC Capital Partners, took the total deal size to €866m.
The shares have traded in range of 1.7% below offer to 0.3%
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