WELLINGTON, July 17 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
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)