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Pumpkin Patch Limited Listing on NZX

Pumpkin Patch Limited Listing on NZX

Pumpkin Patch Limited is pleased to announce that its shares will today list on the New Zealand Exchange. The listing follows the successful initial public offer and book build which was completed on Friday 4 June 2004. Pumpkin Patch has been delighted with the high level of retail and institutional investor support that it has received throughout the offer process.

Pumpkin Patch’s managing director Maurice Prendergast said that the Company “sees listing on the NZX as a further step in its ongoing growth path and it is looking forward to a positive and successful future as a listed company”.

At the time of listing Pumpkin Patch will have approximately 49% of its register held by new institutional and retail investors, 9% held in employee related share schemes and 42% owned by shareholders that were on the register prior to listing.

The issue price was set at $1.25 per share following a book build process that involved international and domestic institutional investors. At $1.25 per share Pumpkin Patch has an implied market capitalisation of approximately $208 million, making it one of the 40 largest New Zealand companies by market capitalization listed on the NZX.

NZX markets development manager Geoff Brown said Pumpkin Patch was a strong brand that was recognised throughout New Zealand. "Pumpkin Patch is a well-known company with a quality product and a widely recognised brand," he said. "Because of that, we're extremely happy to see this company choosing listing as its preferred means for future growth and expansion."

Pumpkin Patch shares will be quoted on the NZSX under the issuer code “PPL” from 11:00am today (Wednesday 9 June 2004).

Goldman Sachs JBWere (NZ) Limited acted as Lead Manager and Sole Book Runner for the offer.

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