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

 


Intueri climbs 12% in training group's NZX debut

Intueri climbs 12% in training group's NZX debut

By Suze Metherell

May 23 (BusinessDesk) – Intueri Education Group rose 12 percent in its NZX debut after owner Arowana International spun off the private training school operator about a year after its own listing on the ASX through a reverse takeover.

The shares first traded at $2.63 after being sold in an initial public offering at $2.35, and were recently at $2.70, giving the company a market value of $270 million. That values Arowana's remaining 24.9 percent holding at $67 million.

Intueri is set to become New Zealand’s largest private training establishment by domestic students, with 6,000 local enrollments and a further 1,000 international students each year, across 26 locations. It also owns half of Online Courses Australia. After listing, Intueri has said it will look to expand in the private education sector in New Zealand and its Australian online education business.

Massey University chancellor and former Landcorp chief executive Chris Kelly is chairman of the company.

Arowana used the shell of insulation business Intelligent Solar, which was placed in administration in 2011 after being caught by the Australian federal government's decision to end a subsidy programme. In turn, it is part of Arowana & Co, set up in 2007 as a type of private equity investor looking at a wide range of businesses.

Arowana shares last traded on the ASX at 88 Australian cents and have climbed 83 percent since their debut in April 2013.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Trade Agreements: TPP Minus US Starting To Gain Ground

The Japanese government is picking up the pace on reviving the Trans-Pacific Partnership trade and investment deal, with talks scheduled next month among the 11 countries left in the pact after the withdrawal by the US after the election of president Donald Trump. More>>

ALSO:

PACER:

Prices Up 2.2%: Annual Inflation Highest In Over Five Years

"Rising petrol prices along with the annual rise in cigarette and tobacco tax lifted inflation," prices senior manager Jason Attewell said. "Petrol prices in New Zealand are closely linked to global oil prices, and cigarettes and tobacco taxes rise in the March quarter each year". More>>

ALSO:

Undertaxed? NZ Income Tax Rate Second Lowest Among Developed Nations

New Zealand workers pay the second smallest portion of their income to the government among developed nations and less than half the average ratio of their Organisation for Economic Cooperation and Development peers. More>>

ALSO:

Cyclone Cook: Round Up Of This Week’s Weather

One of the significant impacts this week was flooding due to excessive rainfall amounts. Rainfall amounts topped out at 350mm over the past 60 hours in parts of northwest Nelson, with 200mm+ measurements recorded about Coromandel Peninsula, and between 150-200mm in the Kaimai Ranges. Rainfall amounts of between 30-50mm were commonplace elsewhere. More>>

ALSO:

Earlier: Batten Down The Hatches For Cyclone Cook

Although fast-moving, Cyclone Cook will be destructive and MetService Expert Meteorologists have issued Severe Wind Warnings for the whole of the North Island apart from Northland... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news