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

 

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:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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