14/12/1999 - 21:00

HOTcopper shares go like hot cakes

14/12/1999 - 21:00

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ONLINE share market investors’ forum HOTcopper’s initial public offering has been heavily oversubscribed.

ONLINE share market investors’ forum HOTcopper’s initial public offering has been heavily oversubscribed.

HOTcopper’s offer closed on 7 December applications were received for nearly double the number of shares on offer.

The company offered 12 million shares at 30 cents each to raise $3.6 million. In line with the prospectus, oversubscriptions for an additional 5,000,000 have been accepted.

Large individual applications have been scaled back to ensure all applications received by the closing date are allocated at least 7,000 shares.

HOTcopper shares are expected to be traded on the Australian Stock Exchange on 17 December.

The company has also reported major growth in its registered membership and overall traffic at its www.hotcopper.com.au site in the past eight weeks.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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