Myer Holdings Ltd (Myer) says that its retail offer to small eligible shareholders will open on Tuesday, following strong demand from brokers.
Chief executive Bernie Brookes said Myer was delighted with the response from the professional investment community to the broker firm offer.
"There was substantial demand from brokers for the broker firm offer, which had to be heavily scaled back," Mr Brookes said in a statement on Monday.
On Friday, final broker firm bids exceeding the scaled back allocations were received from brokers associated with the offer.
This followed a week of analysis of the prospectus, briefings from Myer management and discussions between advisers and their clients.
The retail offer, which is available to all eligible Myer One in-store card holders, opens on Tuesday and is expected to close at 1700 AEDT on Friday 23 October.
Myer said the final price under the offer would be set following the institutional book-build to be held on 28 October and 29 October.
The price paid by retail investors under both the broker firm and Myer One offers will be the same price determined by the institutional bookbuild and paid by institutional investors.
© 2009 AAP
