AFT Pharmaceuticals, the Auckland-based drugs developer and reseller, wants to list in Australia and New Zealand, raising funds to speed up the development of products to sell in other countries. The company is considering an initial public offering on the NZX and ASX, hiring First NZ Capital as sole lead manager, it said in a statement, without indicating how much money it …

Science and Innovation Minister Steven Joyce is happy with the close association the country”s seven Crown Research Institute have with their specific industries, even as their funding comes under review in the National Statement on Science Investment. Joyce launched the national policy on how the government plans to invest in science, research and development this week, unveiling a raft of …

The New Zealand dollar gained after dairy prices rose at the latest GlobalDairyTrade auction, soothing concerns about the local economy and eroding expectations the Reserve Bank will cut interest rates this month. The kiwi rose to 65.41 US cents at 8am in Wellington form 64.99 cents yesterday. The trade-weighted index advanced to 70.77 from 70.51 yesterday. Prices for whole milk powder, New …

HRL Morrison & Co subsidiary JIDA Capital Partners and Shenzhen-based CGN Private Equity Fund Management have raised 1.87 billion Chinese yuan (NZ$451.7 million) from institutional investors to launch a new fund focusing on Chinese renewable energy assets. The unlisted private equity infrastructure fund, CGN Fund III, is seeking to raise 5 billion yuan, which it will mainly invest in operating …

Wynyard Group, the intelligence software developer, widened its first-half loss while boosting sales 39 percent and anticipates faster revenue growth from the second half as it rolls out a new product. The Auckland-based company posted a net loss of $17.6 million, or 14 cents per share, in the six months ended June 30, from $10.2 million, or 9 cents, a year …

Beingmate Baby & Child Food Co shares fell to their lowest since February 2013, after being caught up in the global share-market rout that’s dented Chinese equity markets, slicing more than $200 million from Fonterra Cooperative Group’s investment in the Hanzhou-based infant formula maker. The Shenzhen stock exchange-listed shares dropped 10 percent to 11.87 Chinese yuan, the lowest level since …

GeoOp, the workforce management app developer, will raise $2.4 million in private placement to foreign investors, senior management and the board to help fund the company’s expansion in Australia. The Auckland-based company will sell 5 million shares at 48 cents apiece to a group of investors, with the funds raised going towards beefing up its team in Australia, GeoOp’s biggest …

Datacom, the privately-held IT services firm, surpassed Spark New Zealand as the country’s biggest information technology services provider, lifting annual revenue 6.3 percent in a growing footprint on both sides of the Tasman. Revenue rose to $937 million in the 12 months ended June 30 from $881 million a year earlier, the Wellington-based company said in a statement. Net profit …

Prime Minister John Key is confident the country’s lenders are strong enough to weather a downturn in Auckland if the property market in New Zealand’s biggest city has a correction. The country’s major lenders have assured Key their stress testing shows their respective loan books are strong enough to withstand a drop in Auckland property prices, which has been singled out …

Diligent Corp, the governance software developer, lifted first-half profit 11 percent as it generated stronger sales in the US in the second quarter and is picking faster revenue growth through the rest of the year. Net profit after minorities rose to US$4.9 million, or 4 cents per share, in the six months ended June 30, from US$4.4 million, or 4 cents, …