KEY POINTS:
A $100 million American software company with a local connection will list on the NZX before the end of the year, the Business Herald understands.
New York based Diligent Boardbooks is expected to raise about $20 million on the local market and will have a market cap of $100 million.
The company provides online software solutions to assist company directors by making key data easier to store, access and process.
It will be the first US company to list on the NZX.
It follows Dutch company Cavotech, which listed on the NZX last year after taking over local company Mooring Systems
Diligent's Boardbooks product is a web-based service which provides board members with instant access to board papers from any computer, anywhere at anytime before, during, and in between board meetings.
The company has a division in Christchurch where its main server is based and its software developed.
The Boardbooks software system has already been fully developed and is used by several blue chip companies in the US.
The money raised will be used to fund the roll out of an international sales force.
It will look to take advantage of the increased profile it will get on the local market compared to the US where its size would not make an impact.
It is understood to be attracting interest from a number of high net worth investors in New Zealand.
NZX products group manager Geoff Brown said he could not comment on speculation about potential listings.
But he said the NZX had been working hard to attract software companies to better reflect the thriving sector in New Zealand.
