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

 


Wynyard raises $30 mln in placement to drive growth

Wynyard raises $30 mln in placement to drive growth

March 14 (BusinessDesk) - Wynyard Group, whose shares have soared 158 percent since they listed in July, raised $30 million in a placement to drive growth plans, and will seek a further $5 million in a share purchase plan from existing investors.

The Auckland-based company sold 11.1 million shares at $2.70 apiece, a 5.6 percent discount to the last trading price, to a range of institutional and qualified investors in New Zealand, Australia and the UK, it said in a statement. The shares, which last traded at $2.86, were halted yesterday for the capital raising and will resume trading when the market opens at 10am. The offer was underwritten by UBS New Zealand, which was the sole arranger of the placement.

Wynyard will announce details of the share purchase plan in the coming month, pricing them at the lower of either $2.70 or the average closing price of the five days up to and including the offer’s closing date.

The intelligence software developer 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

 

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Half Full: Fonterra Raises Forecast Milk Price

Fonterra Co-operative Group Limited today increased its 2016/17 forecast Farmgate Milk Price by 50 cents to $4.75 per kgMS. When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.25 to $5.35 before retentions. More>>

ALSO:

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Reserve Bank: Labour Calls For Monetary Policy To Expand Goals

Labour's comments follow a speech today by RBNZ governor Graeme Wheeler in which Wheeler sought to answer critics who variously say he should stop lowering interest rates, lower them faster, or that inflation-targeting should no longer be the primary goal of the central bank's activities. More>>

ALSO:

BSA Extension And Sunday Morning Ads: Digital Convergence Bill Captures Online Content

Broadcasting Minister Amy Adams has today announced the Government’s plans to update the Broadcasting Act to better reflect today’s converged market... The Government considered four areas as part of its review into content regulation: classification requirements, advertising restrictions, election programming and contestable funding. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news