Tag Archives: IPOs

Contact Energy and state-owned Genesis Energy are the two power companies most at risk if the Tiwai Point aluminium smelter closes, says a senior Standard & Poors analyst, Richard Creed. In an interview televised on the Reuters Insider programme, Creed, who is S&P’s director of corporate and infrastructure ratings in Australia, picked all the listed power companies in the New …

Synlait Milk will sell shares at $2.20 apiece before joining the NZX later this month, valuing the dairy processor at $322 million and making it the 43rd biggest company on the exchange. The Rakaia-based company plans to raise $75 million of new capital, and existing shareholders will sell $38.7 million, or 17.6 million shares, in a secondary offer, listing on …

Frucor Beverages, whose parent Suntory Beverage & Food debuted on the Tokyo Stock Exchange last week, posted a 31 percent decline in annual profit as costs rose and sales fell. The New Zealand bottler of Gatorade, V, Just Juice, h2go and Pepsi soft drinks reported a profit of $22.6 million in calendar 2012, down from $32.8 million a year earlier. …

The government looks set to receive a windfall whopper dividend from Meridian Energy following the sale of its 50 percent stake in the A$1 billion Macarthur wind farm in Victoria. The sale, which valued state-owned Meridian’s holding at A$659 million, comes right on balance date for what is likely to be Meridian’s last financial year under 100 percent state ownership, …

Shareholders of Synlait Ltd may sell 19 million shares of Synlait Milk as part of the dairy company’s initial public offering while Bright Dairy won’t participate in the sale, according to Synlait Milk’s prospectus. The Rakaia-based Synlait Milk will raise about $120 million from the IPO, of which $75 million will come from new shares and the remaining $45 million …

The country’s most valuable electricity company, Meridian Energy, will be partially privatised in the second of this year, assuming market conditions make it a good time to sell, Finance Minister Bill English announced in today’s budget. The widely anticipated announcement could see the government take in perhaps $3.3 billion for its so-called Future Investment Fund, with the state-owned electricity generator …

Senior executives of newly listed, state-controlled MightyRiverPower are in line for shares in lieu of cash bonuses worth $1.2 million for the year to June 30, one of the company’s first disclosures to the NZX and ASX as a listed company show. Some $418,750 of that total will be owed to chief executive Doug Heffernan, assuming bonus benchmarks are met. …

Chinese food giant Bright Dairy & Food will give up its controlling stake when local dairy processor Synlait Milk is listing on the stock exchange, retaining its stake without participating in the share sale. Shanghai-based Bright Dairy is expected to keep its investment, diluting its 51 percent stake into the 40s. Other shareholders will have the opportunity to sell some …

Synlait Milk, the dairy company controlled by China’s Bright Dairy & Food, is considering an initial public offering in New Zealand three years after abandoning such a capital raising because of lack of investor demand. Bright Dairy emerged with a 51 percent stake in 2010, paying $82 million and said at the time it would consider a share market listing …

Jade Corp spin-off Wynyard Group has all but announced it will list on the NZX within the next two months, subject to the fast-growing intelligence software group’s shares being accepted by the local bourse. Chaired by former Treasury Secretary Murray Horn, Wynyard has appointed advisers and a broker to raise funds “to accelerate its international growth strategy and meet the …