Retail punters chase Tattersalls shares

Shares in Tattersalls debuted at $3.50 on the Australian Stock Exchange, a premium of 25 per cent on the issue price. The share price is well below the optimistic predictions of some analysts that the meagre allocation of stock to institutions and retail investors would push the price to as high as $4. Most of the selling from the first day of trading appeared to come from beneficiaries and retail clients of float manager Goldman Sachs JBWere. The biggest brokers buying the stock were CommSec, Ord Minnett, Macquarie Retail, Bell Potter and Patersons – all retail brokers.

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