Equity Firm: Owner Tpg and Ingham Shares

equity firm: However, Ingham shares struggled to take flight, even after its owner TPG slashed the amount of money it planned to raise in the float, according to Australian Broadcasting Corporation. After initially flagging a price of between $3.57 to $4.14 a share, the US private equity firm ended up floating Ingham at $3.15. Related Story: Chicken company Inghams' owners TPG to sell up to 70 per cent Map: Australia Shares in Australia largest poultry producer have eventually climbed modestly in see-sawing trade. Ingham shares initially lost ground despite the lower listing price, falling as low as $3.10 before fluttering back up to $3.20. "While Ingham is a major player in a staple industry, this is a mature market and a stock that will be reliant on productivity gains and cost cutting to achieve growth targets," Ric Spooner, the chief market analyst at CMC Markets, wrote in a note. TPG then slashed the amount it planned to raise in the Ingham listing to $596 million just last week and said 40 per cent of its shares would be sold compared to the 50 to 70 per cent planned in its initial prospectus. "With TPG having reduced the IPO price, the stock will come to market with more positive market sentiment," Mr Spooner wrote. External Link: ASX tweet: Welcome to the market Ingham In October TPG lodged a prospectus that gave Ingham an indicative price of between $3.57 and $4.14 a share and was expected to raise between $767.6 million and $1.12 billion from investors. (news.financializer.com). As reported in the news.