Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Vending Technologies IPO Recieves Strong Suppor

MEDIA RELEASE

FOR IMMEDIATE RELEASE

Vending Technologies IPO Closes After Strong Support


AUCKLAND, 27 October 2000 – ‘Smart’ vending machine operator, Vending Technologies Ltd (VTL), confirmed that its $7.5m initial public share offer closed today.

VTL offered $2m existing shares and $5.5m new shares at a price of $1.00 to fund a programme of rapid expansion.

The issue enjoyed very strong support from retail investors, and the company was particularly pleased with the smooth uptake of shares in an otherwise difficult market.

The issue was fully subscribed.

Shareholder allotments will be made on Tuesday, 31 October.

Trading on the New Zealand Stock Exchange (NZSE) will commence on Wednesday, November 1st under the code VTL.

Craig & Co Ltd was the Lead Broker to the Offer.

VTL’s intelligent food and drink vending machines have the ability to sell hot and cold products out of the same machine, and are fitted with proprietary software that enables remote monitoring of machine and merchandising performance.

The Company operated 419 vending machines at the end of the financial year ended 31 March 2000, and plans to have more than 4700 machines operational in Australia and New Zealand within 18 months.


About Vending Technologies Limited

Vending Technologies Limited (VTL) supplies and operates electronically enhanced food and beverage vending machines throughout Australasia. Established in December 1997, the Company manufactures, sells, maintains and services vending machines.

The company has developed a proprietary computerised management system to enable tracking of all transactions, with complete revenue accountability and the ability to monitor the performance of each machine from remote locations.
VTL has a network of long-term alliances with leading suppliers of major branded convenience food and beverages.

Contact:

Richard Janes
Chairman, Vending Technologies Limited.
025 577 090
pepper@xtra.co.nz

Robert Mannion
Botica Conroy & Associates
(09) 303 3862; mob: 021 403 505
robertm@bca.co.nz

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>