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.
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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.
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