Submitted by Manish Verma on Mon, 07/12/2010 - 09:58
On its first contribution in the Australian Securities Exchange, the international paint, adhesives and garden-care products supplier DuluxGroup Ltd opened its stock market debut at $2.50 a share, then climbed in few minutes by 20 cents, to hit a rise of $2.70. As a result, the value of the company rests to be $900 million.
DuluxGroup has recently demerged from explosives and chemicals group Orica Ltd, which performed very poorly today. However, Orica shareholders will have a share in DuluxGroup for every share they hold in Orica Ltd.
Brands as Dulux, Selleys, Berger Paints and Yates belong to name of DuluxGroup Ltd.
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