Cinema firm valued at $188m in IPO

TOM PULLAR-STRECKER
Last updated 13:26 17/07/2014

Relevant offers

Industries

Obama pushes for new tax on oil to fund switch to green-tech Use of Maori culture in 2 Cheap Cars' Waitangi Day ad questioned Duck eggs hatch into growing business for Taranaki couple Domestic manufacturing sales increase but downturn in dairy prices could begin to bite Vodafone latest business to partner with Neighbourly ANZ forecasts more pain for dairy farmers Wellington's former Red Cross building on the market Volkswagen emissions fix starts next week Carmakers to recall five million vehicles NZ software firms well-placed to capitalise on payments move says Visa

Investors in cinema software company Vista's sharemarket float will pay $2.35 for its shares, valuing the company at $188 million.

The price was set following a book build open to institutional investors and retail brokers who had been told to expect the price to fall between $2.10 to $2.70.

Vista, one of a stream of technology companies listing on the NZX, is raising $40m of new capital through its initial public offer. Its existing shareholders are seeking to cash up $52m by selling down their stake in the company to 47 per cent.

Chairman Kirk Senior said the investors had applied for more than twice as many shares on offer at the final price, "showing a strong level of support from investors".

Vista's retail offer will close on August 1 and it expects to list on the exchange on August 11.

Ad Feedback

- Stuff

Special offers

Featured Promotions

Sponsored Content