Friday 17th September 2021 |
Text too small? |
NZ Automotive Investments Limited has been advised that an existing substantial shareholder is completing a sell-down through a bookbuild process through selected retail brokers.
A trading halt is required to facilitate an orderly market for NZA securities while the book build takes place.
The size of the sell-down is up to $5.0m which is expected to represent approximately 10% of the total market capitalisation of NZA. If the placement is fully subscribed, NZA’s free float will increase from ~8% to 20%.
The founder’s decision is aligned to and facilitates the business strategy of increasing liquidity and broader engagement in the stock.
The offer is being made while NZA’s shares are in a trading halt, which is expected to remain in place until the earlier of:
• An announcement about the completion of the bookbuild; or
• Close of trading on Friday, 17 September 2021.
If fully subscribed the founder will remain a substantial shareholder in the NZA owning 34% of shares on issue following the sell-down.
Please see the link below for details
Proposed share sell down by NZA founder
Source: NZ Automotive Investments Limited
No comments yet
PaySauce Quarterly Market Update - September 2024
October 2nd Morning Report
Rua Releases Annual Report for Year Ended 30 June 2024
SCL - Settlement of orchard sales
The Warehouse Group 2024 ASM and Director Nominations
AIR - Update on Chief Operational Integrity and Safety Officer
Comvita Limited - Annual Report 2024
September 27th Morning Report
Spark announces departure of Finance Director
FBU - Retail Entitlement Offer Opens