28th Apr 2014 09:45
LONDON (Alliance News) - Polypipe Group PLC Monday said Deutsche Bank had exercised its option over the 10.3 million over-allotment shares granted by Cavendish Square Partners LP in Polypipe's recent initial public offering, and will sell the shares at the offer price of 245 pence a share.
Polypipe's shares have risen overall since the IPO. The stock was down 0.4% on the day at 264 pence a share Monday morning.
Deutsche Bank was the stabilisation manager for the Polypipe IPO.
By Steve McGrath; [email protected]; @SteveMcGrath1
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