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

 


CORRECT: Wynyard to raise $35M through placement, SPP

CORRECT: Wynyard to raise $35M through placement, share purchase plan to fund growth

(Corrects second paragraph to show UBS underwriting placement at $2.70 a share)

March 13 (BusinessDesk) - Wynyard Group, the intelligence software developer, plans to raise $35 million through a placement and a share purchase plan to fund its global growth strategy. Its shares have been halted for the capital raising.

The Auckland-based company said it would raise $30 million via a placement to institutional investors and $5 million via a SPP. The placement is underwritten at $2.70 a share by UBS New Zealand, which has been hired as arranger.

Shares of Wynyard last traded at $2.86 and have soared 158 percent since they began trading in July last year. The NZX 50 Index rose 12 percent in the same period.

"Wynyard will accelerate new user and revenue growth by doubling its direct sales and professional services team and expanding its partnership programme with technology partners and technology systems integrators," the company said in a statement.

"This expansion will be across all key regions, but weighted towards significant opportunities the company sees for its products in the US justice sector," it said.

The company is also bringing forward "new advanced crime analytics product features" and will expand its Crime Science Research Centre, it said.

Wynyard raised $65 million in an initial public offer last year of which $25.8 million was used to fund growth, with the rest paying former parent Jade Software for intellectual property listing costs, and intercompany debt.

Last month Wynyard posted a pro-forma loss of $11.2 million for calendar 2013, just above the $10.1 million shortfall forecast in its June prospectus. Revenue more than doubled to $21.7 million, beating its forecast of $21.5 million and the company said it expects to beat its 2014 sales forecast of $27 million.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news