Napier Port NZX IPO

20/8/2019
IPO

NZ$ 234 million

Completed

20/8/2019


Overview:

  • Napier Port has launched an IPO for the partial sell-down by its owner, Hawke's Bay Regional Council, raising NZ$234 million after debuting on the New Zealand Exchange (NZX).
  • This is the largest IPO in New Zealand since 2016, with the aim to raise capital to reduce debt and fund the proposed 6 Wharf expansion project.
  • The listing is the first in the port sector since Port of Lyttelton in 1996 and may be the first in a trend for mixed ownership model transactions to fund infrastructure needs around the country.

Adam Majeed - Regional editor

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