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

 


Intueri to list at $2.35 as Arowana holds onto maximum stake

Intueri to list at $2.35, the lower end of its range, as Arowana holds onto maximum amount

By Suze Metherell

May 8 (BusinessDesk) – Shares in Intueri Education Group, the private training provider, will list on the New Zealand stock exchange at $2.35, the lower end of the price range, as ASX-listed owner Arowana International holds onto a quarter of the group.

The Australian company will hang onto 24.9 percent and earn $101.9 million, half of the maximum $234 million it could have garnered from the dual-listing of Intueri on the NZX and ASX. The indicative price range for the IPO was between $2.25 and $2.75, with Arowana retaining between 15 percent and 25 percent.

The $2.35 share price gives Intueri an enterprise value of $252.5 million. The offer period starts today and ends May 21.

Arowana will use $60 million of the offer to pay for Intueri’s February acquisition of Quantum Education Group. Intueri is set to become New Zealand’s largest private training establishment by domestic students, with 6,000 local enrolments and a further 1,000 international students each year, across 26 locations. It also owns half of Online Courses Australia.

Once listed Intueri has said it will look to expand opportunities in the private education sector in New Zealand and its Australian online education business.

Massey University chancellor and former Landcorp chief executive Chris Kelly will chair the company.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Balance Of Trade: NZ Posts Trade Deficit In October On Falling Dairy Exports

New Zealand’s posted its largest monthly trade deficit for October in six years, while narrowing the shortfall from September, led by a fall in dairy exports to China while all main imports into the country rose. More>>

ALSO:

Gigatown Winner: Plenty Of Positives For Dunedin

Although the city has taken the Gigatown title, along with new ultrafast 1Gbps broadband and funding for $700,000 worth of UFB-related initiatives across the community, Mr Cull says Dunedin has gained so much more through its involvement. More>>

ALSO:

R18: The Warehouse Group Praised For Removing Games

The decision by New Zealand’s largest retailer The Warehouse Group (TW Group), to withdraw stocks of the latest version of Grand Theft Auto V (GTA V) and other R18 games, has been praised by advocacy group Stop Demand Foundation. More>>

ALSO:

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news