ChannelLife NZ - Wynyard Group lists on NZ Stock Exchange today

Warning: This story was published more than a year ago.
153980318.jpg

Wynyard Group lists on NZ Stock Exchange today

Wynyard Group will today list on the main board of the New Zealand stock exchange, with managing director Craig Richardson saying he is "delighted" by the support received from local and international investors.

“Wynyard Group has secured a high quality register of local retail investors and leading institutions from New Zealand and Australia," he says.

"The initial public offering was designed for investors who understand the accelerating global market and technology trends Wynyard Group is strongly positioned to address.”

In a statement released this morning, more than 60% of the offer shares have been allocated to New Zealand and Australian institutional investors; major investors include Milford Asset Management, Salt Funds Management, Harbour Asset Management, AMP Capital, Zeus Management and Sam and Gareth Morgan.

Richardson says the business is now majority owned by New Zealand investors, reversing a recent trend of high growth New Zealand tech companies being sold to overseas investors.

“Prior to the IPO we received many approaches from savvy multi-nationals wishing to acquire Wynyard Group’s business and intellectual property," he says.

"One of the most rewarding outcomes of this IPO is that Kiwi’s recognised Wynyard’s global achievements to date, our future growth potential and the importance of this hi-tech company to New Zealand.”

Wynyard's initial public offering raised $65 million at $1.15 per share last month, implying a market capitalisation of $118 million for the company.

The company raised capital to continue its global expansion, develop new sales channels and invest in its risk management, intelligence, investigations and digital forensics software products.

“Wynyard has enjoyed a favourable first half securing new contracts with the New Zealand Police and other New Zealand government agencies, expanding Wynyard’s Financial Crime detection software-as-a-service (SaaS) customer base in the United Kingdom and United Arab Emirates, and continuing to build capability in the United States market place,” Richardson says.

“Recent world events have only strengthened Wynyard's competitive advantage and global value proposition.

"Our portfolio of powerful software products were purpose-built to help manage risk, intelligence and investigations in democratic environments where trust, security and privacy depend on transparency, effective governance and compliance with the law."

The company currently employs over 120 staff across offices in New Zealand, Australia, United States, Canada, United Kingdom and the United Arab Emirates.

Interested in this topic?
We can put you in touch with an expert.

Follow Us

Featured

next-story-thumb Scroll down to read: