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Rubicon, the forestry biotech company spun out of Fletcher Challenge, reiterated plans for an initial public offer for ArborGen, the biotech forestry company it holds a third of, as it laments its languishing share price. The Auckland-based company has been mulling an ArborGen share float since August 2013, after an aborted attempt in 2011, though it has to weigh up the realisation of immediate value …

New Zealand wholesale trade sales rose in the third quarter, led by gains in the auto industry. Seasonally adjusted sales rose 0.7 percent to $22.08 billion in the three months ended Sept. 30, adding to a 1.8 percent increase in the second quarter, according to Statistics New Zealand. On an unadjusted basis, wholesale trade was up 4.3 percent from the …

Shares of Evolve Education Group, the childcare business, rose 7 percent on its NZX debut after its initial public offer raised $132.3 million in new capital to fund its acquisitions in early childhood education. The stock first traded at $1.07, up from its $1 offer price, and valuing the company at $189.5 million. The Auckland-based company, set up in May by Greg …

The New Zealand dollar gained, following the euro higher, after the European Central Bank refrained from injecting more stimulus into the sluggish regional economy, and ahead of US employment data, which is closely watched by the market. The kiwi rose to 77.80 US cents at 8am in Wellington from 77.46 cents yesterday. The trade-weighted index advanced to 78.32 from 78.07 yesterday. …

European stocks fell, while Wall Street was mixed, rebounding from earlier losses to inch higher to record highs for both the Dow and the S&P 500, after the European Central Bank failed to deliver on additional stimulus. The ECB also downgraded its forecasts for euro-zone inflation and gross domestic product through 2016. Investors had anticipated ECB President Mario Draghi would …

Vital Healthcare Property Trust, the country’s biggest listed medical and healthcare property investor, has signalled A$14.4 million of new developments in Newcastle, Australia, and bought land in Melbourne to beef up an existing property in the city. The property investor will spend A$13 million to build a new 42-bed ward and car park at its Maitland Private Hospital just outside …

Oceania Healthcare is on track for an initial public offering in early 2015, but the Macquarie Group managed aged-care operator’s chief executive, Earl Gasparich, says he’s also in talks with private investors and funds. The Auckland-based company is seeking new capital to develop prime brownfield sites in Auckland, Tauranga and Nelson, Gasparich told BusinessDesk. That could be through either an IPO, which was first touted in …

Freightways, the listed courier and data management company, will spend up to A$30 million on Australian information management firm LitSupport. The Auckland-based company paid A$17.1 million upfront, and will add potential earnouts of up to A$12.1 million based on LitSupport’s 2017 performance, in a deal that’s expected to generate A$17 million of annual revenue and A$3.8 million in operating profit, Freightways said …

Intueri Education Group, New Zealand’s largest private training company, has agreed to buy Academy Group NZ  for an initial payment of $4 million and the balance on completion of the target’s 2015 accounts, adding courses for pharmacy technicians, florists, motor trades and building. The acquisition price will amount to four times 2015 earnings before interest and tax and is expected to add $5 …

The New Zealand dollar fell as increasing confidence about the pace of the US economy drove up the greenback and traders continued to weigh the implications for the local economy of weaker dairy prices. The kiwi fell to 77.55 US cents as at 8am in Wellington, from 77.71 US cents late yesterday. The trade-weighted index was little changed at 78.10 from 78.13. …