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

 


Serko Lists on NZX Main Board


Serko Lists on NZX Main Board


Serko First Tech Stock to List on NZX in 2014

Serko Limited (Serko) announces its shares will commence trading on the NZX Main Board at 11am today (NZST) under the ticker code ‘SKO’.

Serko sought to raise $22.0 million at $1.10 per share from its initial public offer (IPO) and has been overwhelmed by the strong investor support, which saw the public pool component of the retail offer over-subscribed by 3.5x (350%) and close nine days early. After scaling and completion of the offer, Serko has around 900 shareholders including institutions from both Australia and New Zealand, clients of some New Zealand NZX Firms and members of the public in New Zealand and Australia.

Serko is a New Zealand-based cloud technology company that provides an integrated corporate travel booking and expense management solution to approximately 6,000 corporations and government agencies across the Asia Pacific region.

The IPO will provide the funding to enable Serko to accelerate its market and product expansion into the Asia Pacific target markets.

CEO Darrin Grafton said: “We are very pleased to reach this exciting milestone. We greatly appreciate the support and confidence of our new investors. We are now moving forward with our plans to expand our existing business into new markets and develop new products that will help corporations run more cost effective travel programmes for their employees.”

Chairman Simon Botherway said: “The response to Serko’s capital raising has been very pleasing. We now have a strong and diverse share register.”

Serko was advised by investment bank Cameron Partners, who was the lead manager of the IPO.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: Leighton-Led WGP To Build, Manage Transmission Gully

The Wellington Gateway Partnership, led by a unit of ASX-listed Leighton Holdings, has won the $1 billion contract to build the Transmission Gully road north of Wellington. More>>

ALSO:

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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