Metroglass shares debut at $1.75, for 2.9% gain from IPO

Article – BusinessDesk

July 30 (BusinessDesk) – Shares of Metro Performance Glass rose 2.9 percent on their NZX debut, after a $244.2 million initial public offer which saw private equity owners Crescent Capital and Anchorage Capital reduce their ownership to an 18.5 percent … Read more »

Tenon to supply Masters Home Improvement stores in Australia

Article – BusinessDesk

July 29 (BusinessDesk) – Tenon, whose locally produced wood mouldings are sold in the US, will expand its business across the Tasman, supplying the Woolworths and Lowe’s Home Improvement joint venture Masters Home Improvement stores. Read more »

MARKET CLOSE: NZ stocks fall led by Telecom; Fonterra gains

Article – BusinessDesk

July 29 (BusinessDesk) – New Zealand shares fell led by Telecom Corp after an analyst’s report cut the stock’s target price ahead of its name change next week. Units in the Fonterra Shareholders’ Fund rose after Fonterra Cooperative Group slashed its … Read more »

Fonterra slashes 2015 milk payout forecast to $6/kgMS

Article – BusinessDesk

July 29 (BusinessDesk) – Fonterra Cooperative Group cut its forecast 2015 milk price payout by 14 percent, citing a decline in global dairy prices in the face of strong global production, a build-up of inventory in China and falling demand in emerging … Read more »

Pumpkin Patch founder Sally Synnott leaves board

Article – BusinessDesk

July 29 (BusinessDesk) – Pumpkin Patch founder Sally Synnott is retiring from the childrenswear retailer’s board to be replaced by Griffin’s Foods executive Josette Prince as the business continues a strategic review to revive falling sales and profit. Read more »

ERoad shares priced at bottom end of range, owners trim sale

Article – BusinessDesk

July 29 (BusinessDesk) – Shares of ERoad have been priced at $3 apiece, the bottom of its proposed range, and existing owners sold less of their holdings as the logistics and fleet management company raises $40 million in new capital to chase growth in … Read more »

CORRECT: Abano achieves second year of 75% profit growth

Article – BusinessDesk

July 28 (BusinessDesk) – Abano Healthcare, the medical investor that fended off a hostile takeover from its biggest shareholder, posted a 75 percent jump in full-year profit, beating guidance and allowing it to maintain dividend payments for a sixth … Read more »

MARKET CLOSE: NZ shares fall ahead of earnings season

Article – BusinessDesk

MARKET CLOSE: NZ shares fall ahead of earnings season; Air NZ drops to 3-month low Read more »

Focus On Growth Continues For Healthcare Investor

Press Release – Abano Healthcare Group Limited

Healthcare investor and operator, Abano Healthcare Group (NZX:ABA) has delivered a Net Profit After Tax (NPAT) of $4.9 million for the 2014 financial year, a 75% increase on the previous year and at the top of the Companys guidance. Read more »

Abano achieves second year of 75% profit growth

Article – BusinessDesk

July 28 (BusinessDesk) – Abano Healthcare, the medical investor fending off a hostile takeover from its biggest shareholder, posted a 75 percent jump in full-year profit, beating guidance and allowing it to maintain dividend payments for a sixth straight … Read more »

CORRECT: NZX 1H activity shows boosted volume, lower value

Article – BusinessDesk

(Fixes number of listings in first graph, removes incorrect listing date of CRP and rights issues in third graph) Read more »

CORRECT: SLI Systems says sales miss forecast on ARR basis

Article – BusinessDesk

CORRECT: SLI Systems says FY sales miss forecast on ARR basis, to report smaller loss Read more »

NZX first-half activity shows boosted volume, falling value

Article – BusinessDesk

July 28 (BusinessDesk) – The volume of cash trading on the NZX rose 22 percent in the first six months of the year, compared to a year earlier, with 16 new listings across its debt and equities markets, including four companies debuting on the bourse. … Read more »

Dorchester Pacific to bid $3/share for Turners Auctions

Article – BusinessDesk

July 28 (BusinessDesk) – Dorchester Pacific plans to offer $3 a share in cash, shares and notes for Turners Auctions, valuing the auction company at $82 million, after winning support from chairman and major shareholder Michael Dossor. Read more »

Major Acurity shareholders launch all-cash takeover bid

Article – BusinessDesk

July 28 (BusinessDesk) – The three biggest shareholders of Acurity Health Group have launched a cash takeover bid for the 29 percent they don’t own, valuing the private hospital operator at $112.2 million, saying the firm faces a big struggle lifting … Read more »

SLI Systems says FY sales miss forecast on ARR basis

Article – BusinessDesk

July 28 (BusinessDesk) – SLI Systems, the search engine software developer, said full-year revenue missed its prospectus forecast, using its preferred measure, although it will report a smaller loss because of delays in building a sales team. Read more »

MARKET CLOSE: NZ shares gain, led by Xero

Article – BusinessDesk

July 25 (BusinessDesk) – New Zealand shares rose, led by Xero after investors gained confidence about the cloud-based accounting software firm’s US expansion plans following upbeat comments at the company’s annual meeting this week. Read more »

Carbon tax axe will boost Australian renewables: Trustpower

Article – BusinessDesk

July 25 (BusinessDesk) – Electricity generator Trustpower believes the repeal of Australia’s carbon tax will be great for renewable energy, which is likely to be heavily favoured under the federal government’s Renewable Energy Targets scheme. Read more »

Kiwibank exits Goodman Property’s $600 mln lending syndicate

Article – BusinessDesk

July 25 (BusinessDesk) – Kiwibank has exited a five-year, $30 million lending relationship with Goodman Property Trust, New Zealand’s largest listed property investor with the remaining ‘big four’ banks to boost their funding to $150 million each. Read more »

Scales Corporation lists on the NZX Main Board

Press Release – Scales Corporation Ltd

Shares in leading New Zealand agribusiness group Scales Corporation began trading on the NZX Main Board today following the successful IPO that raised $149 million through the sale of new and existing shares. Read more »

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