Press Release – Moa Brewing
Results in considerable scaling to the public pool Moa Group Limited has completed allocations for its IPO in advance of quotation, which is expected to occur on the NZX Main Board at midday today under the code “MOA”. The IPO comprised a raising …News release
Tuesday 13 November, 2012
Moa Offer Significantly Oversubscribed
Results in considerable scaling to the public pool
Moa Group Limited has completed allocations for its IPO in advance of quotation, which is expected to occur on the NZX Main Board at midday today under the code “MOA”.
The IPO comprised a raising of $15 million, by way of firm allocation to institutional investors and clients of NZX Firms, plus an additional amount of up to $1 million by way of a public pool. In light of oversubscription in applications made via the public pool, considerable scaling has been applied.
The $1 million public pool closed oversubscribed by 124% (over twice the amount sought).
Priority was given to those applicants who pre-registered for the offer. Unfortunately, those who applied under the public pool but did not pre-register will not receive an allocation of shares in the IPO and will have their application refunded in full.
Moa CEO Geoff Ross says, “We are delighted with the support for the offer from all investors; however we simply can’t satisfy all applications. With the Moa listing set to proceed today, we hope these people can support Moa post listing by looking to buy on-market and enjoying the Moa range of beers.”
Applicants with a Common Shareholder Number and FIN can visit the Link Market Services Investor Centre at www.linkmarketservices.co.nz from 9.00am today to ascertain their allocation before trading of the shares commences at midday. Alternatively applicants can call the Share Registrar (Link Market Services) or their broker.
Craigs Investment Partners and Forsyth Barr acted as Joint Lead Managers to the offer.