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

 


Excellent response to Delegat’s Group IPO

19 April 2006

Excellent response to Delegat’s Group IPO

The Delegat’s Group IPO has achieved a strong response from investors, with applications in the priority and public pool in excess of the available number of shares. The response means that some scaling will be required on the public pool applications.

Delegat’s Managing Director Jim Delegat said the company was delighted with the response to the offer. “More than 3,600 people have applied for shares, including those with entitlements through sharebrokers and through existing links with the company.

“I am delighted with the success of the IPO, and with such a strong vote of confidence from investors,” Mr Delegat said. “We look forward to working with the shareholders, and to building on the solid foundations established for a world class wine company.”

The Executive Chairman of ABN AMRO Craigs, Neil Craig, said the offer had been outstandingly successful. “The priority and public pool was unusually large, at $15 million. To be over-subscribed speaks volumes for the overall support for Delegat’s.”

Proceeds from the IPO will be used to repay a portion of bank debt, provide working capital and fund the development of the group’s new $70 million Marlborough winery.

The offer involved the issue of 32.14 million new shares at $1.40 each. Westpac Institutional Bank has been Adviser and Lead Manager, and ABN AMRO Craigs Co-Lead Manager, Organising Participant and Underwriter. Jim and Rose Delegat remain as 68 percent shareholders of the listed company and did not sell any shares in the float.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news