Weekly investors roundup: India's LIC made poor trading debut after impressive offering; Temasek-backed Zilingo fires chief executive
India's state insurer LIC traded down on debut after blockbuster IPO; Temasek-backed e-commerce platform Zilingo fires chief executive Ankiti Bose amid investigations into financial irregularities; Australia's Unisuper and Australian Catholics Superannuation enter agreement to explore merger; and more
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India’s state-owned insurer Life Insurance Corporation (LIC) had a poor trading debut on the Mumbai stock exchange last week (May 17), after a record initial public offering (IPO) that was priced at the top of the range and oversubscribed nearly three times.
The shares fell as much as 9.4% to 860 rupees ($11.05), versus their IPO price of 949 rupees, before paring about half of the losses. The counter is currently trading at around 829 rupees as of yesterda…
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