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Dalrymple IPO plunges on IEEFA warning

December 08, 2020

The Market Herald:

A pair of initial public offerings landed with a dull splat. The delayed float of Dalrymple Bay Infrastructure (ASX:DBI) was clouded by a damning analysis by the US-based Institute for Energy Economics and Financial Analysis. “Overvalued, overleveraged and over-promised,” warned the IEEFA. The $1.3 billion price tag of the IPO proved too rich for investors: the share price sagged 16 per cent on debut. Ready-made meal provider Youfoodz (ASX:YFZ) fared even worse, falling 30 per cent.    

[Steve Fraser]

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