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Investors sneeze at Pepper’s ASX debut – The Australian Financial Review
The non-bank lender traded about 10 per cent below its issue price on Tuesday afternoon, as investors report market fatigue.
Pepper closed 10 per cent below its issue price at $2.61 after trading as low as $2.55 just before the close of trade in a market that was stronger overall as the major banks rose but was cautious on new companies.
There is a lot of selling around. People are realising losses before end of the financial year, and there a bit of fatigue, said Dean Fergie, director at Cyan Investment Management.
There is quite a bit of supply in the market at the moment, and it just feels like the market has run out…
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