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Compass Float Receives Strong Support:

Initial interest in the stock exchange launch of Compass Airlines was so strong that the prospectus has had to be reprinted three times with the expected 100 million shares being sold by late June.

At presstime a number of large institutions, including BT Australia, the Commonwealth Superannuation Fund, AMP and the QIDC had invested a reported $21m in the new airline which is set to commence operations this December. Potter and Partners, who are handling the float on behalf of Compass, have also factored in the capability to accept an additional 30 million shares, which if taken up, would take Compass’ launch revenue base to $65m. At presstime it looked certain that this supplementary float would also be fully taken up by early July.

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