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

 


Chapman Tripp Continues to Advise on National Flow of IPOS

Media Release

Chapman Tripp Continues to Advise on National Flow of IPOS

25 July 2014

Chapman Tripp’s Auckland and Wellington Capital Markets teams have advised Scales Corporation and ikeGPS on this week’s initial public offerings (IPOs) and listings on the NZX Main Board. Chapman Tripp has acted for the issuer on six of the nine IPOs that have listed, or are soon to list, on the NZX this year.

Scales Corporation

Partner Tim Tubman and senior associate Rachel Dunne (Auckland) acted for Christchurch-based agribusiness group Scales Corporation on today’s IPO, which raised $149m through the sale of new and existing shares and valued Scales at $224m.

Tim Tubman said: “Scales’ IPO stands out within 2014’s strong run of new listings as it’s the first for New Zealand’s primary sector. Diversity adds to the strength of the country’s capital markets and it’s great to see another success story represented there.”

Chapman Tripp advised on all aspects of the listing, which included a sell down by Direct Capital Investments Limited, who, together with co-investors the New Zealand Superannuation Fund and ACC, have retained a 20% cornerstone shareholding in Scales.

ikeGPS

Partners Josh Blackmore and Geof Shirtcliffe (Wellington) acted for Wellington-based ikeGPS on Wednesday’s $25m IPO. ikeGPS provides combined hardware and software solutions which enable users to capture real-time measurements, geolocate remote objects, and make measurements and models from photographs.

Josh Blackmore said: “We congratulate ikeGPS on its listing. The global export of smart solutions, such as those pioneered by ikeGPS, are fundamental to New Zealand’s future prosperity.

“We are delighted to have contributed to what is set to become another Kiwi success story.”

The same Chapman Tripp team advised on Z Energy’s 2013 IPO.


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Auckland Outage: Power Mostly Restored Overnight

Vector wishes to advise that all but 324 customers have been restored overnight. These customers are spread throughout the network in small pockets. The main St Johns feeder was restored around midnight allowing most of the customers in all affected areas to have power this morning. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news