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

 

Possible IPO and stockmarket listing for Carters

14 August 2015

Possible IPO and stockmarket listing for Carters Building Supplies

Carter Holt Harvey (CHH) is considering an IPO of the New Zealand Carters building supplies distribution business through an offer of ordinary shares in Carters Building Supplies Group Limited (Carters) and listings on the NZX and ASX.

CHH said it expects to retain a significant stake in the company following its listing.

The announcement follows a review of an earlier proposal to list CHH’s New Zealand and Australian timber processing and building supplies businesses as a single entity. CHH’s Board announced in June that the earlier proposal was on hold, citing difficulties in forecasting the earnings outlook of its Australian timber business.

Carters is a leading supplier to the building trade, with 50 distribution outlets and nine frame and truss sites across the country. This well-established national network puts Carters in a strong position to capitalise on the continuing strong demand for new housing.

No money is currently being sought and ordinary shares in Carters Building Supplies cannot currently be applied for or acquired under the intended offer. If the offer is made, it will be made in accordance with the Financial Markets Conduct Act 2013. Expressions of interest will not involve an obligation or commitment of any kind.

The joint lead managers to the intended offer are Credit Suisse, First NZ Capital, Deutsche Bank, Deutsche Craigs, and Forsyth Barr.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Fuels Rushing In: Govt "Ready To Act" On Petrol Market Report

The Government will now take the Commerce Commission’s recommendations to Cabinet...
• A more transparent wholesale pricing regime • Greater contractual freedoms and fairer terms • Introducing an enforceable industry code of conduct • Improve transparency of premium grade fuel pricing... More>>

ALSO:

Reserve Bank Capital Review Decision: Increased Bank Capital Requirements

Governor Adrian Orr said the decisions to increase capital requirements are about making the banking system safer for all New Zealanders, and will ensure bank owners have a meaningful stake in their businesses. More>>

ALSO:

Aerospace: Christchurch Plan To Be NZ's Testbed

Christchurch aims to be at the centre of New Zealand’s burgeoning aerospace sector by 2025, according to the city’s aerospace strategic plan. More>>

ALSO:

EPA: Spill Sees Abatement Notice Served For Tamarind Taranaki

The notice was issued after a “sheen” on the sea surface was reported to regulators on Thursday 21 November, approximately 400 metres from the FPSO Umuroa. A survey commissioned by Tamarind has subsequently detected damage to the flowline connecting the Umuroa to the Tui 2H well. More>>

Taskforce Report: Changes Recommended For Winter Grazing

A Taskforce has made 11 recommendations to improve animal welfare in intensive winter grazing farm systems, the Minister of Agriculture Damien O’Connor confirmed today. More>>

ALSO: