Australian IPO hopes boosted by carsales.com

09 Sep 2009

Carsales.com.au, Australia’s biggest website for car adverts, made its debut on the Australian stock exchange on Thursday in a A$164m ($140m) deal that raises hopes for a surge in initial public offerings during the fourth quarter.

Carsales.com closed at A$3.99, up 14% from its A$3.50 offer price, as investors warmed to the country’s biggest new listing for over a year. Macquarie Capital arranged the float.

The strong debut came as a number of other companies are eyeing new listings, and bankers are expecting IPOs ...

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