Estia shares have falling as much as 17 per cent from their $5.75 issue price in a horror market debut.
Estia shares have falling as much as 17 per cent from their $5.75 issue price in a horror market debut.
Estia shares have falling as much as 17 per cent from their $5.75 issue price in a horror market debut.
Estia shares have falling as much as 17 per cent from their $5.75 issue price in a horror market debut.
Shares in aged care operator Estia have plunged after listing on the ASX, falling as much as 17 per cent from their $5.75 issue price in a horror market debut.
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The company, which raised $725 million in the fourth biggest IPO of the year. The float was priced on a multiple of 21 times forecast earnings and gave Estia a market captialisation of $1.035 billion.
Private equity firm Quadrant sold 38.3 per cent of its holding in the float but will retain a 17.1 per cent stake.
Estia runs 39 aged care centres. Its listing follows that of fellow aged care groups Japara and Regis Healthcare.
More to come
