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.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Grey Power: Is Disappointed To Learn Of More Bank Closures

Many older people are being left without essential services because of cost cutting and the march of modern technology. It is now expected that most banking transactions can occur via the internet or telephone. Jan Pentecost, President of the Grey Power ... More>>


Economy: Supply Chain On Brink Of Overload Says National Road Carriers

The New Zealand supply chain is on the brink of overload and it looks like the upcoming peak imports season may push it over the edge says National Road Carriers Association (NRC) CEO David Aitken. “Worldwide supply chains are in disarray,” says Mr Aitken. ... More>>

Retail: Supermarkets Announced As Government’s Second Market Study

The Government has today launched a market study to ensure New Zealanders are paying a fair price for groceries. More>>


Statistics New Zealand: Retail Sales Recover In The September 2020 Quarter

Retail sales values recorded the largest September quarter rise since the series began in 1995, Stats NZ said today. Spending on major household items, vehicles, and groceries contributed to the strong 7.4 percent ($1.8 billion) rise in total ... More>>

Kea Aerospace: New Zealand Flies Into The Stratosphere

Development has started on a solar-powered, unmanned aircraft that can fly in the stratosphere continuously for months at a time. The zero-emission aircraft will carry a suite of imagery equipment that will be game-changing for many industries, vastly ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>


Forest & Bird: Kākāpō Wins Bird Of The Year 2020

The nation has voted and Aotearoa New Zealand has a new Bird of the Year. New Zealand’s moss-colored flightless parrot has climbed to the top-spot for the second time in Forest & Bird’s annual Te Manu Rongonui o Te Tau/Bird of the Year competition. ... More>>