Wakefield Hospital touts NZSE listing

Friday 13th July 2001

By Campbell McIlroy

Wakefield Hospital will put a proposal to list on the Stock Exchange to shareholders on July 27.

The private healthcare provider's board has recommended the float to its 65 shareholders, made up mostly of medical specialists.

One of the country's largest private hospitals, Wellington-based Wakefield recorded revenues of $24.7 million in the year ending March 2001 with an after-tax profit of $1.7 million.

The listing is understood to be the first initial public offering of its type in New Zealand.

Wakefield general manager Richard Barnes said the hospital was a full-service surgical facility which handled about half the central region's heart surgery and had a full suite of radiology equipment and CT scanners.

Wakefield has already commenced a $10 million development programme.

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