Shares in the New Zealand vodka producer 42 Below Ltd will go on offer on Monday at NZ$0.50, in a move with which the company plans to raise NZ$15m.

The 30m shares that will be issued represent 25% of the company. A further 1m shares will be issued to staff also at 50 cents.

Brent King, managing director of Dorchester Pacific, the parent of Direct Broking Ltd., the lead broker for the issue. Said: "The issue has clearly caught the investors' attention.

"The market has reacted extremely positively to the offer and the inquiry has been overwhelming."

The offer closes on October 10.