Investment company Kingfish Limited listed today

31 March 2004
MEDIA RELEASE

Investment company Kingfish Limited listed today on the New Zealand Stock Exchange, having raised a total of $58.5 million. The company, which is managed by Fisher Funds Management Limited, raised in excess of its original target of $50 million in the offer which opened in early March.

For every $1 share purchased in the IPO, shareholders also received one option to buy an additional share at $1 in March 2006, 2007 or 2008. The opening trades in the shares and options were at 96 cents and 12 cents respectively, or $1.08 combined, representing an 8% premium over the issue price.

Kingfish will invest in a diversified portfolio of both listed and unlisted small New Zealand companies. Chairman Rob Challinor commented that the directors were “delighted at the level of support for the issue, and pleased that so many investors will now gain access to a professionally managed portfolio of quality small New Zealand companies.”

Fisher Funds Managing Director Carmel Fisher said that she was “very pleased that the issue has attracted more than 5,000 investors, most of whom have not previously had a relationship with Fisher Funds”. She noted that “the IPO process was efficient and enjoyable, thanks largely to the joint lead managers ASB Bank and First NZ Capital. The Fisher Funds team has already begun investing the Kingfish assets and we look forward to rewarding the confidence shown by new Kingfish shareholders.”
ENDS.

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