The initial public offering pipeline is continuing to build, despite some recent hiccups, with Auckland-based software firms Wherescape and Orion Health advancing their plans to float on the sharemarket, according to market sources.
Metro Performance Glass yesterday confirmed a $1.70 issue price for its listing, which will raise $244.2 million and value the company at $315.6 million when it floats on the NZX and Australia's ASX.
Trading is expected to commence on July 30. The private equity owners of Metro and Scales Corporation - a Christchurch-based fruit marketer that expects to list on July 25 - had to accept final offer prices at the bottom end of their indicative ranges after receiving strong "push-back" on pricing from fund managers.
Equipment rental firm Hirepool withdrew its IPO late last month after institutional investors rejected the price range being sought.