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By GlobalDataDespite 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.
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData