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

 


Vista Group Announces Price

Vista Group Announces Price

17 July 2014 - Vista Group International, a New Zealand head quartered global leader in film industry software, has today confirmed an offer price of $2.35 a share, following a book build process open to institutional investors and New Zealand retail broking firms.

Vista Group will raise $40 million in new capital to fund acquisitions and development plans. Existing shareholders will sell 22 million shares to take the total offer size to $92 million, retaining a 47 per cent stake in the Company.

The price places an indicative market capitalisation of the company at $188 million, with a total of 80 million shares on issue.

Chairman Kirk Senior says the Vista Group’s business case resonated well with the investment community as reflected in the final price, which sits just below the midpoint of the indicative range of $2.10 to $2.70 a share.

“At this price, the offer was more than two times covered - showing a strong level of support from investors. In particular, they have demonstrated confidence in our management team and our strategy to become a broader global film industry software company.”

The retail offer will open on 17 July 2014 and close on 1 August 2014 and the Group expects to commence trading on the NZX Main Board and ASX on 11 August 2014.

Important Notice:
The offer of Shares in Vista Group International Limited (“Vista Group”) is made on the terms and conditions set out in the Investment Statement and the Prospectus for the initial public offering of ordinary shares (“Shares”) in Vista Group.

None of the existing shareholders nor any other person guarantees the Shares. An application has been made to NZX Limited (“NZX”) for permission to list Vista Group and to quote the Shares on the NZX Main Board, and all requirements of NZX relating thereto that can be complied with on or before the date of this announcement (being 17 July 2014) have been duly complied with. However, NZX accepts no responsibility for any statement in this announcement. The NZX Main Board is a registered marked operated by NZX, which is a registered exchange, regulated under the Securities Markets Act 1988.

About the Vista Group
Vista Group is a global leader in film industry software solutions comprising six businesses. Building on the leading position of Vista Entertainment Solutions, the core business within the Group that operates in the cinema exhibition industry, Vista Group is now expanding to offer solutions across the wider film industry. It has over 250 staff across six offices in New Zealand (headquarters), the USA, the UK, the Netherlands, Australia and China. In addition to these offices, Vista Entertainment Solutions has a global distribution network of business partners operating around the world, which the other Group businesses can utilise to support their growth. A copy of the Investment Statement and the Prospectus can be accessed from: www.vistagroup.co.nz

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Tax: GST Threshold For Online Purchases Won't Lower Before 2018

The government wants to lower the threshold on online purchases which qualify for GST from mid-2018, but says more work is needed and there will be no change without public consultation. More>>

ALSO:

North Canterbury: Government Extends Drought Classification

The government has extended a drought classification for the eastern South Island until the end of the year, meaning the area will have officially been in drought for almost two years, the longest period for such a category. More>>

ALSO:

Negotiations Fail: Christchurch Convention Centre Build To Proceed Without PCNZ

After protracted negotiations, the government has ditched the construction consortium it picked to build Christchurch's replacement convention centre, which it now anticipates delivering at least two years behind the original schedule. More>>

ALSO:

Ruataniwha: Greenpeace Launches Legal Challenge Against $1b Dam Plan

Greenpeace NZ is launching a legal challenge against a controversial plan to build a dam that’s set to cost close to $1 billion and will pollute a region’s rivers. More>>

ALSO:

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:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news