Wotif.com prices at A$2.00 as Aussie market slides 2%

The online accommodation website beats market bears by pricing at the top of the institutional bookbuild range.

In a deal reminiscent of dotcom days, the discount accommodation website wotif.com priced its IPO at A$2.00 each, raising A$172 million for the company and its founding directors.

On Wednesday, joint lead managers Macquarie Bank and ABN AMRO Morgans were getting ready to scale back orders after a two-day institutional bookbuild process prior to a listing scheduled for 8 June.

Market sources confirmed that the shares priced at the top of the bookbuild range of A$1.75 and A$2.00 despite a...

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