19 April 2006
Excellent response to Delegat’s Group IPO
The Delegat’s Group IPO has achieved a strong response from investors, with applications in the priority and public pool
in excess of the available number of shares. The response means that some scaling will be required on the public pool
applications.
Delegat’s Managing Director Jim Delegat said the company was delighted with the response to the offer. “More than 3,600
people have applied for shares, including those with entitlements through sharebrokers and through existing links with
the company.
“I am delighted with the success of the IPO, and with such a strong vote of confidence from investors,” Mr Delegat said.
“We look forward to working with the shareholders, and to building on the solid foundations established for a world
class wine company.”
The Executive Chairman of ABN AMRO Craigs, Neil Craig, said the offer had been outstandingly successful. “The priority
and public pool was unusually large, at $15 million. To be over-subscribed speaks volumes for the overall support for
Delegat’s.”
Proceeds from the IPO will be used to repay a portion of bank debt, provide working capital and fund the development of
the group’s new $70 million Marlborough winery.
The offer involved the issue of 32.14 million new shares at $1.40 each. Westpac Institutional Bank has been Adviser and
Lead Manager, and ABN AMRO Craigs Co-Lead Manager, Organising Participant and Underwriter. Jim and Rose Delegat remain
as 68 percent shareholders of the listed company and did not sell any shares in the float.
ENDS