Net offer overrun

AUSTRALIA’S first Initial Public Offering sponsored solely by an Internet stockbroker closed heavily oversubscribed in four days.

Sanford Securities was the sponsoring broker for the IPO for Perth-based CCK Financial Solutions.

CCK accepted the minimum subscription of $6 million plus

oversubscriptions of a further $1 million.

CCK is a developer of treasury and risk management software for banks, fund managers and corporations including Telstra, Merrill Lynch, Wesfarmers, Fosters Brewing and Westpac.