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NEW ISSUANCE in the UK hitech sector continues to build, despite increasing nervousness in the sector and the poor performance of recent high profile new issues.
This week CSFB released a 180p to 205p indicated price range for the IPO of online auction house QXL. The deal involves the sale of 28m primary shares with a greenshoe option of 4.2m.
Although there has been speculation that this indicated price range puts a much lower than expected valuation on the group, the bankers involved have defended the price and point to keen interest from potential investors.
At this range the group is valued at between 212m...