Australian travel insurer makes weak IPO debut
Shares in Cover-More Group opened down 12.5% today following the Sydney-based travel insurer’s A$521m ($460m) IPO on the Australian Securities Exchange.
Shares opened at A$1.75 apiece, below the IPO price of A$2 a share, and were trading at A$1.62 this afternoon, valuing the company at just over A$514m. As a result of the listing, Sydney-based private
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