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

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news