sealink travel ipo closes early

SeaLink Travel IPO closes early
PUBLISHED: 26 SEP 2013 14:44:19 | UPDATED: 26 SEP 2013
EDITED BY SARAH THOMPSON, ANTHONY MACDONALD AND GRETCHEN FRIEMANN

In perhaps another sign of the growing optimism in investment markets, ferry and tourism company SeaLink Travel Group will close its public offer early after strong demand from investors.

SeaLink, which runs the Captain Cook cruises business on Sydney Harbour and the ferry to Kangaroo Island off South Australia, will now close its float on October 2, bringing it forward by nine days from the original closing date of October 11. The decision has been prompted by a strong flow of applications already.

The float, which isn’t underwritten but is being handled by joint lead managers Ord Minnett and Taylor Collison, seeks to raise $16.5 million through 15 million new shares at an offer price of $1.10 each. Overall, this will give SeaLink a market capitalisation of $77 million.

The anticipated listing date on the ASX has also been brought forward, and is now earmarked for October 16, instead of the original October 24.