Strict issue closes, reasonable make the offering price, if the super raised part saved, will solve many urgent need financing business, and less on the stock market.
The stock closed at 9.11 euros yesterday, 35 percent more than the rights offering price.
It closed Monday at $30.40 — 138 percent above its initial offering price of $12.80, but down 39 percent from its $50 high.
Investors didn't flock to WSP even after it reduced its offering price.
Why the mismatch between the offering prices and the market values?
SJM, which went public in July after repeatedly cutting its offering price to entice a sceptical market, has seen its valuation cut in half.
The offering price is near or at $58.
Another encouraging sign: This year's few big IPOs have seen their stocks hold well above their initial offering price.
In 4 p.m. trading, WSP Holdings was at $8.54, slightly higher than its offering price of $8.50.
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