NZ's Vista prices share sale, raises $34.8 mln
WELLINGTON, July 17
WELLINGTON, July 17 (Reuters) - New Zealand entertainment software company Vista Group International Ltd expects to raise NZ$40 million ($34.84 million) through a sale of new shares ahead of a listing next month, the company said on Thursday.
It said just over 17 million new shares and 22 million shares from existing shareholders would be sold in an initial public offering at NZ$2.35 each.
The price, set after a bookbuild with institutional investors and retail broking houses, was just below the midpoint of an indicative range between NZ$2.10 and NZ$2.70 each.
The total offer is worth NZ$92 million, and gives the company a capitalisation of NZ$188 million. Existing shareholders expect to hold about 47 percent after the IPO.
Vista produces software used by cinema operators around the world to manage bookings and staff, and to track sales. Its offer documents forecast revenue of nearly NZ$50 million in the current year.
The company aims to list on the New Zealand and Australian stock exchanges on Aug 11.
($1 = 1.1482 New Zealand Dollars) (Reporting by Gyles Beckford; Editing by Stephen Coates)
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