Summit builds on momentum

摘要

Shares of Blackstone-backed building supply company summit materials rose 16.5% on their debut last Thursday following a US$400m IPO. Citigroup, Goldman Sachs, Bank of America Merrill Lynch, Barclays, Deutsche Bank and RBC Capital Morketsplaced 22m shares at the mid-point of the US$17-$19 marketed range, making the flotation the largest since mid-February. Summit was only the 26th new US listing so far this year, compared with the 47 companies that had gone public on US exchanges by this time last year, according to Thomson Reuters data.