Dyno Nobel IPO prices above top end of bookbuild range

The global explosives company raises A$1.1 billion from investors before listing on the Australian Stock Exchange today.

Co-lead managers Macquarie Bank and Credit Suisse met investor demand for Dyno Nobel stock by raising the price of the initial public offering to A$2.37 per share, 10 cents above the top end of the bookbuild range.

The largest IPO in Australia this year priced yesterday April 6 after a two-day bookbuild process that saw the arrangers ask institutions to re-bid for the stock at a higher price.

├┤Early on we were oversubscribed at the A$2.27 price so we decided...

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