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

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news