Tim Hortons rises more than 20% in debut - MarketWatch:
The IPO price was $23.16 but the first trade in teh secondary markets (NYSE) was much higher, again showing that you have to be in early to make money on IPOs.
"After opening at $31.95, the stock fell in the open market, making it hard for retail investor to net a gain as it traded under $30 a share for most of the day.As of 10:50 AM on 3/27/06 the stock is trading at $27.39.
Tipping the scales at $672 million, Tim Hortons ranks as the richest IPO in North America this year."
1 comment:
A Reuters article pointed out that Tim Hortons has a market value of $5.75 billion. Wendy's 85% stake represents 67% of Wendy's market cap. ANother example of institutional constraints on arbitrage?
Post a Comment