Hubbard has NZX listing in mind

Allan Hubbard

A new company incorporating three assets controlled by South Canterbury businessman Allan Hubbard is likely to be listed on the New Zealand Stock Exchange early next year.

It is understood that newly registered Southbury Corporation will be listed and include a smaller South Canterbury Finance, Helicopters New Zealand and Scales Corporation.

The directors of Southbury, which was registered on September 24, are Bill Baylis, Stuart McLauchlan, Denham Shale (all appointed on Friday as independent directors of South Canterbury Finance) and SCF chairman Hubbard.

Hubbard controls SCF through Southbury Group. He also owns 100 per cent of Helicopters New Zealand and 86 per cent of Scales.

SCF's owner, Southbury Group, has appointed Forsyth Barr and Harmos Horton Lusk as advisers to assist in the restructuring and recapitalisation of the group, which is ongoing.

Forsyth Barr is likely to be the lead manager of the float.

-NZPA