Redcape Group still looking for reservations.

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Redcape Group (RDC) has received a slightly tepid response from the market today as it went live around 12pm.

Prices peaked at $1.10 and slipped slightly to $1.06 as trade continued, widening the gap to the $1.13 ask.

Besides the usual, Redcape will use some of the IPO proceeds to purchase another 3 properties, on NSWs South Coast, to add to it’s current portfolio of 32.