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

 

Employment: ANZ Proposes Casualisation In Whangarei Stores

ANZ workers in Whangarei could see their incomes drop by 20 to 40 percent if the bank’s proposal to reduce the number of full-time positions goes ahead says FIRST Union national organiser Tali Williams. More>>

Finance: BNZ Develops Specialist Tāmaki Māori Banking Team

BNZ develops specialist Tāmaki Māori Banking Team to support Māori as Auckland grows More>>

Pharmaceuticals: Commerce Commission To Consider Pharmaceuticals Merger

The Commerce Commission has received an application from Pfizer Inc. seeking clearance to acquire all of the shares in Hospira Inc. More>>

Real Estate: Housing Unaffordability Issues Spread

Surging house prices in Auckland and Queenstown last month pushed home ownership even further beyond the reach of first home buyers in the two districts, according to the AMP360 Home Loan Affordability Report for March. More>>

Statistics NZ: Annual Exports To China Dip Below Australia

The value of goods exports to Australia ($8.7 billion) surpassed those to China for the year ended March 2015, Statistics New Zealand said today. More>>

Science: Hookworm Discovery At Malaghan Institute

Professor Graham Le Gros has led a team which has stimulated both innate and memory responses to the parasite, discovering along the way the unexpected behaviour of one particular immune cell, in Hookworm, one of the world’s most devastating tropical ... More>>

Business: Provinces Urged To Make Full Use Of New Air Services

Provincial New Zealand has been urged to use new air services to Auckland or risk losing them either partially or completely. The stark warning was issued today by Far North mayor John Carter at a ceremony at Kaitaia airport to mark the final Air ... More>>

Mobile: 2degrees To Credit All Calls And SMS To Nepal

In the wake of the devastating earthquake in Nepal in the weekend, 2degrees will be crediting all calls and SMS messages made to mobiles and landlines in Nepal from Friday 24th April until midnight Wednesday 29th April. More>>

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news