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

 

Inequality: Top 10% Of Housholds Have Half Of Total Net Worth

The average New Zealand household was worth $289,000 in the year to June 2015, Statistics New Zealand said today. However wealth was not evenly distributed, with the top 10 percent accounting for around half of total wealth. In contrast, the bottom 40 percent held 3 percent of total wealth. More>>

ALSO:

What Winter? Temperature Records Set For June 20-22

The days around the winter soltice produced a number of notably warm tempertaures. More>>

Conservation Deal: New Kākāpō Recovery Partnership Welcomed

Conservation Minister Maggie Barry says the new kakapo recovery partnership between DOC and Meridian Energy is great news for efforts to save one of New Zealand’s most beloved birds. More>>

ALSO:

Tech Sector Report: Joyce Warns Asian Tech Investors View NZ As Hobbits And Food

Speaking in Wellington at the launch of a report showcasing the value of the technology sector to the New Zealand economy, Joyce said more had to be done to tell the country's technology stories overseas. More>>

ALSO:

Mediaglommeration: APN Gets OIO Approval For Demerger Plan

APN News & Media has received Overseas Investment Office approval for its plan to split out its NZME unit ahead of a potential merger with rival Fairfax Media's New Zealand operations. More>>

New Paper: Ninety-Day Trial Period Has No Impact On Firms' Hiring

The introduction of a 90-day trial period has had no impact on hiring by New Zealand companies although they are now in widespread use, according to researchers at Motu Economic and Public Policy Research. More>>

ALSO:

Corrections: Serco Exits Equity Stake, Remains As Operator

Serco has sold its equity stake in the company that holds the contract to design, build and run Wiri Prison in South Auckland but continues as sub-contractor to operate the facility. More>>

GDP: NZ Economy Grows Faster-Than-Forecast 0.7%

New Zealand's economy grew at a faster pace than expected in the first quarter of 2016 as construction expanded at the quickest rate in two years. The kiwi dollar jumped after the data was released. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news