WELLINGTON, July 4 (Reuters) - Entertainment software company Vista Group International Ltd on Friday said it was planning an initial public offer and stock exchange listing, the fifth in New Zealand in less than two months.
The company said the IPO would comprise up to 19 million new shares and a sell-down of 22.4 million shares from existing shareholders at a price between NZ$2.10 and NZ$2.70 each.
It would raise between NZ$86.9 million and NZ$100.3 million ($76.07 million and $87.80 million), with proceeds to be used to pay down debt and fund expansion.
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 final share price was expected to be set on July 16, with existing shareholders expecting to hold between 45 and 49 percent after the IPO.
The company aims to list on the New Zealand and Australian stock exchanges on Aug 11.
Meanwhile, fruit grower, exporter, and agricultural logistics firm Scales Corporation Ltd said it had priced its offer of new shares at the bottom of its indicative price range.
It said it would sell 93 million new and existing shares at NZ$1.60 each, after a bookbuild with institutional investors, valuing the company at NZ$224 million.
Scales had originally indicated an offer of up to 100 million shares at between NZ$1.60 and NZ$1.85 each.
Private equity investor Direct Capital, along with the state-owned New Zealand Superannuation Fund and Accident Compensation Corporation, has retained a 20 percent cornerstone stake.
Scales expects to list on the New Zealand bourse on July 25.
$1 = 1.1423 New Zealand Dollars Reporting by Gyles Beckford; Editing by Stephen Coates