Winton lists on NZX Main Board and ASX following its successful $350 million IPO, with a market capitalisation of $1.15 billion
Highlights
- Trading in shares of Winton commences today at 2.00 pm NZT on the New Zealand Stock Exchange (NZX) and as a Foreign Exempt entity on the Australian Securities Exchange (ASX) at 3.00 pm NZT under the ticker codes WIN.NZ and WTN.AX.
- Winton successfully raised $350 million in new equity at an issue price of $3.887 per share.
Winton is pleased to confirm that it successfully raised $350 million in new equity under an Offer of 90 million new shares at an issue price of $3.887 per share.
Winton co-founder, Chris Meehan, says: “We are delighted to be admitted to the official lists of the NZX and ASX today following the successful IPO.
On behalf of the Board, I wish to welcome all new Winton shareholders to the business. As we embark on a significant new chapter of growth and diversification, our transition to become a public company represents an important milestone. The support Winton has received from our local capital market has been humbling and energises us to execute on our growth strategy.”
As part of the Winton Offer, Macquarie Asset Management (part of Macquarie Group) committed $200 million through one of its real estate vehicles, further supported by a group of high-net-worth investors for approximately $110 million and the balance through a Chairman’s List Offer nominated by Winton that included a Bookbuild with leading New Zealand and Australian institutional investors. The Bookbuild, run jointly by Jarden Securities and Forsyth Barr, was significantly over subscribed.
Winton co-founder, Chris Meehan, says: “We are proud of the business we have created and the excellent team of people that have helped make Winton the high-performing company it is today. With our strong financial position and growth strategy, we are excited about the journey ahead.”
As a cornerstone investor, a representative from Macquarie Asset Management will join Winton’s Board of Directors post IPO.
Board of Directors at day of listing:
- Chris Meehan, Chair and Chief Executive Officer
- Julian Cook, Executive Director and Director of Retirement
- Michaela Meehan, Executive Director
- David Liptak, Non-Executive Director
- Anna Molloy, Independent Non-Executive Director
- Glen Tupuhi, Independent Non-Executive Director
Grant Samuel acted as Financial Adviser, Chapman Tripp as New Zealand Legal Adviser, Mills Oakley as Australian Legal Adviser and KPMG as Investigating Accountant.