The New Zealand sharemarket may get a new addition in the form of the country's biggest equipment rental company, Hirepool, in the first half of this year, says a well-placed financial market source.
The source, in confirming a report published in the Australian Financial Review, said the new listing would have a market capitalisation of about $300 million.
He said Hirepool, which is ultimately owned by mid-sized Sydney-based private equity company Next Capital, had hired Deutsche Bank/Craigs Investment Partners, Macquarie Capital and UBS to manage an initial public offer and NZX listing.
Another market source said much would depend on how many shares Next Capital was willing to sell down.
Its subsidiary, the New Zealand Rental Group - which owns Hirepool - bought rival company Hirequip and merged the two last year.