WELLINGTON, June 11 New Zealand software
developer ikeGPS Group Ltd is considering raising up to NZ$25
million ($21.32 million) in new capital through an initial
public offering to fund its growth in the United States.
The company, which creates remote measuring and modelling
software for the utility and engineering sectors, said it
planned to offer shares to domestic retail and institutional
investors later this month ahead of a listing on the NZX's Main
In a statement, ike said it had appointed Forsyth Barr and
Deutsche Craigs as joint lead managers for the offer.
Ike is the fourth New Zealand company to announce IPO plans
in less than a month, as a growing number of small technology
firms tap the market to fund their expansions.
($1 = 1.1729 New Zealand Dollars)
(Reporting by Naomi Tajitsu; Editing by Stephen Coates)