Investors yesterday had their first chance of getting a slice of Promina, which is offering 900 million ordinary shares in its $2.1 billion float. It’s the biggest float since Optus went public in 1998 and reputedly the biggest in the world this year.

Retail stockbrokers will account for up to 25% of the $1.90 shares when Promina lists on the stockmarket on May 12. Retail investors will pay 10 cents less per share than the institutions.

Applications by retail investors must be for a minimum of 1000 shares and in multiples of 100 thereafter.

Analysts’ reactions to the float have been mixed, with many predicting it won’t get close to $2 billion. Time will tell.