AUSTRALIA: Latest public wine float success
Despite predictions of an industry over-supply and toughening export markets, Australia's latest public wine float was a soaring success as shares in Cockatoo Ridge wines shot 64% above issue price on a backdoor listing. They went from A$0.55c (US$0.27) , to A$0.90. The shares, listed through a shell company, are tightly held by institutions and managing director Ivan Limb, who has 20% held in Escrow. Limb said Cockatoo Ridge would now hire marketing staff to boost exports. The brand currently sells about 200,000 cases in Australia with only 20,000 exported.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 14 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Analysis - Remy's Cognac "dead-cat bounce"
- Comment - How Hand-Made is Tito's Handmade Vodka?
- Heineken to stay "active player" in beer M&A - CFO
- Focus - Pernod Ricard's Q1 sales by brand
- Diageo's future brighter than present suggests
- Moët Hennessy unveils first Travel Retail outlet
- United Spirits sees Q1 net loss
- Beam Suntory, Edrington part ways in Travel Retail
- Smirnoff Ice gets India launch
- Pernod Ricard sees sales lift in Q1