Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


BBY a Firm Supporter of ASX BookBuild

BBY a Firm Supporter of ASX BookBuild

ASX BookBuild is an additional support tool for both listed and unlisted entities to consider when deciding on how to price and allocate new securities.

ASX BookBuild combines the most effective capital raising practices with principles of market integrity from the secondary market. This produces better price discovery and more equitable corporate governance outcomes for all market participants.

When it comes to capital raising, ASX BookBuild provides companies with a lot more choice and flexibility. BookBuild enables issuers and lead managers to capture all-of-market demand, though issuers still retain sufficient control to; ensure orderly pricing, control the amount of the issue that is allocated to known bidders, respond to changing market conditions, and generate an optimal shareholder register.

The BookBuild system went live in October 2013, and it was another step forward for the ASX in delivering on its commitment to improving the competitiveness of Australia’s financial markets. BBY Chief Executive Officer, Arun Maharaj comments, “ASX BookBuild has strengthened the competitiveness, transparency and efficiency of the Australian market in raising capital. BookBuild is encouraging unlisted businesses to access Australian capital markets and more than ever in a tough economy that has an even tougher outlook, this is exactly what Australia needs. BBY fully supports this initiative and we have the resources to provide Corporate Advisory for companies looking to use the BookBuild system".

Since joining BBY in 2004, Executive Chairman Glenn Rosewall has always looked to maximise the firm’s technological capabilities by taking advantage of support tools such as ASX BookBuild. Glenn Rosewall comments, "Within the consolidating stockbroking industry, most firms take a band aid approach and focus on cost-cutting. This is where BBY gets ahead of the game by instead investing in leading-edge technology to maximize our business efficiency. Organisations cannot expect to ride through tough economic times with an inefficient approach to business, and they certainly cannot expect to realise the very best opportunities for the clients without the right resources."

Not only does BBY make a point of improving business efficiency through the incorporation of new technologies, BBY also strongly supports raising capital for technology companies. Glenn Rosewall comments, “There are plenty of Australian companies at the forefront of technology, and I have always strongly supported raising capital for technology companies. Investors must realize that we are no longer experiencing cyclical growth in IT; growth in this sector is now being structurally derived from a long-term shift in attitudes towards IT where people are becoming well aware that technology is no longer an option, but a necessity imposed on all business activity.”

ASX BookBuild provides investors with a fairer opportunity to participate in capital raisings, and all eligible investors can participate in BookBuilds via their ASX broker. If you are interested in participating in a BookBuild through BBY, please contact Client Sales & Solutions on 1800 551 212.

Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing: Affordability Drops 14%, Driven By Auckland Prices

Housing affordability across New Zealand fell 14 percent in the year ending November 2014, with Auckland’s lack of affordability set to reach levels it hit during the height of the global financial crisis, according to the latest Massey University Home Affordability Report More>>

ALSO:

The Dry: Fonterra Drops Forecast Milk Volumes By 3.3 Percent

Fonterra Cooperative Group, the worlds largest dairy exporter, reduced its milk volume forecast for the 2014-2015 season by 3.3 per cent due to the impact of dry weather on production in recent weeks. More>>

ALSO:

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news