Colin Barnett

Colin Barnett

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    AlintaGas public offer closes early and oversubscribed

    29/09/2000 4:35 PM
     
    29/9/00

    The AlintaGas retail offer to the public has closed early and oversubscribed.

    Energy Minister Colin Barnett said today this was an excellent result and endorsement of the decision to give priority to Western Australian retail and institutional investors in the float of WA’s major utility company.

    “The allocation policy will be advertised on Monday, October 16 and from that day successful applicants will be able to check their allocations on the AlintaGas website: http://www.alintagas.com.au and via the IPO call centre 13 15 27,” Mr Barnett said.

    “Successful applicants will receive - by mail - an allotment package to be despatched to them no later than Monday, October 23.

    “Any refunds due to successful applicants are also expected to be despatched no later than Monday October 23.”

    Mr Barnett said the AlintaGas retail offer comprised 66 million stapled securities to the public at an application price of $2.25 per stapled security and an institutional offer of up to 22 million stapled securities with an indicative price range of $2.10 to $2.40.

    “The price the public will pay can still change, as retail investors have the advantage of paying the lower of the retail application price of $2.25 and the final institutional price,” the Minister said.

    “Pricing outcomes will be advertised in the press on Monday, October 16.”

    The financial adviser to the State on the offer is Deutsche Bank AG. The joint lead managers to the public offer are Hartley Poynton, Macquarie Equity Capital Markets and Paterson Ord Minnett, with co-managers D J Carmichael, J B Were and CIBC World Markets.

    Media contact: Diana Callander 9222 9699