CGA - overpromise and underdeliver. CGA recently launched its global LIC, CQG asking for $220m max with $110m extra if demand high. Result was $100m raised. 30% fill rate. Sub - optimum size.
Today, the AFR reports that a relative unknown fundie ( see note below) where demand for its global LIC "has already surpassed its maximum raising target, before oversubscriptions, of $300 million. And with several weeks of the investor roadshow still to go, will accept oversubscriptions of up to $100 million."
No overpromising and underdelivering with this fundie.
$100m compared to $300 m plus . Whats wrong with this picture?
Yoda thinks we all need to take a cold shower. CGA tends to over promise? What happened to that Carlton Football Club fund that was launched with such fanfare? Any updates? Any chance CIE, CGA's mid cap income LIC can be upsized?
Note -- yoda has been pinged by the Moderator. Hence, Yoda has not put in name of fundie as Moderator says its cross promotion.
CGA Price at posting:
$1.02 Sentiment: None Disclosure: Not Held
