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

 

AFT Pharmaceuticals lists on the NZX Main Board and ASX

2pm NZT

AFT Pharmaceuticals lists on the NZX Main Board and ASX

Shares in AFT Pharmaceuticals Limited (“AFT”), began trading on the NZX Main Board and ASX today following the successful IPO that raised $35.6 million through the issue and sale of new and existing shares.

The shares in the growing multinational pharmaceutical business have been issued at $2.80 a share giving the company a market capitalisation of $271 million on listing.

CEO, Dr Hartley Atkinson says the offer has been well supported and the listing represents an excellent result.

“We welcome a number of institutional investors and members of public across New Zealand and Australia as shareholders, including a significant number of doctors, dentists and pharmacists.”

“We can now focus on our goals such as selling our existing products like Maxigesic to new international markets, and advancing our pipeline products like the SURF Nebuliser. The additional capital will enhance our ability to make the most of those identified opportunities.”

In connection with the successful IPO, AFT has also issued 100 shares (7,700 shares in total) to each employee (excluding executive directors) credited as fully paid up at an issue price of $2.80 per share, in consideration for their services as employees for the period through to 20 December 2015.

On listing, 11.23% of the shares in the company are held by 735Members of the Public whose names appear on the share register and who hold at least a Minimum Holding of shares (“Members of the Public” and “Minimum Holding” having the meanings given to them in the Listing Rules).

The Sole Lead Manager for the Offer was First NZ Capital.


ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Primary Sector Council Report: Vision To Unite The Primary Sector Launched

Agriculture Minister Damien O’Connor has welcomed the release of a bold new vision for the country’s vital food and fibre sector. More>>

ALSO:

Crown Accounts: Treasury HYEFU Sees Deficit Then Rising Surpluses

An operating balance before gains and losses deficit of $0.9 billion is forecast in the current year, before returning to a small surplus in 2020/21 which then grows to reach $5.9 billion (1.5% of GDP) in 2023/24. More>>

ALSO:

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: