Ingham’s initial public offering (IPO) a quiet take-off
After 98 years as a private company Australia’s big poultry processor, Ingham’s Group, floated this week on the ASX to a muted response.
The shares were offered at $3.15 each to raise AUD $600million for the its private equity owner TPG.
First trade was at $3.14. The stock fell to $3.10 before closing at $3.22. Volume was 9.72 million shares, representing 2.6 per cent of the stock on issue.
The float has reduced TPG’s equity from 90.1 per cent to 47 per cent which is considerably higher than its earlier target of only 24 to 40 per cent retained equity.
Poultry consumption per capita has been growing steadily in Australia. In 2014 Australians consumed almost 1.5 times more chicken than beef, a figure that is projected by industry experts to rise to 1.6 by the end of 2025.
- Ingham’s chickens to fly in ASX float, TPG to get golden egg
- Ingham fire brought under control
- Ingham mulls options after factory fire
- Decision yet to be made over future of Ingham factory
A new joint survey from UBS and the Australian Food and Grocery Council (AFGC) has found Australian ...
A leadership change has been announced for New Zealand dairy giant, Fonterra.
A new study has uncovered American consumers are feeling increasingly overwhelmed by the amount of c...
Farmers Union Iced Coffee will be rebranding, but only for a limited-time.
A new Sara Lee Bavarian range has hit Australian supermarkets.
Coca Cola Amatil has acquired Western Australian independent brewer Feral Brewing Company.
Costco has announced it will be opening its first store in Western Australia.
Australians are being invited to be inventive with the McKenzies 12 blend soup mix. This is a combin...