GTK
25/06/2014 13:36
LISTING
REL: 1336 HRS Gentrack Group Limited
LISTING: GTK: GTK completes successful IPO - lists on NZX and ASX
25 June 2014
Gentrack completes successful IPO - lists on NZX Main Board and ASX
Gentrack Group Limited (Gentrack, the Company) shares will begin trading on
the NZX Main Board and ASX today using the code GTK following the successful
Initial Public Offering (IPO) that raised NZ$99 million through the sale of
new and existing shares.
Immediately prior to the commencement of trading of Gentrack's shares on the
NZX Main Board at 12 noon*, the Company will have a market capitalisation of
NZ$174.5 million.
Chairman John Clifford says the IPO attracted strong support from
institutional and retail investors.
"Investors clearly understand the attributes and position of Gentrack's
solutions for utilities and airports on the domestic and international stage,
backed by the proven capabilities of its staff and management team to deliver
profitable growth."
"We are delighted to welcome as investors institutions in New Zealand and
Australia and eligible retail investors in the UK, New Zealand and
Australia."
The new capital raised in the IPO will be used to pay down all existing debt
and provide a platform for further growth, including potential acquisitions.
Chief Executive Officer James Docking says the transition to a publicly
listed company will provide assurance for Gentrack's existing and potential
customers who include large electricity, gas and water utilities and major
international airports globally.
"Market orientated reforms of the power and water sectors in Australia and
the United Kingdom are creating opportunities for Gentrack's Velocity billing
and CRM solution and will help maintain our track record of delivering
compound annual revenue and earnings growth. Further out we believe similar
dynamics will make other international markets attractive for Gentrack to
enter."
For the 2014 financial year, Gentrack has forecast pro forma earnings before
interest, tax, depreciation and amortisation (EBITDA) of NZ$14 million on
revenues of NZ$40.6 million. The Company is intending to pay its first
dividend in December 2014 of NZ3.5 cents a share for the period from IPO to
the financial year end of 30 September 2014.
For further information please contact:
Aaron Baker
Marketing Manager
Gentrack Group Limited
+64 9 966 6100
*Trading on the ASX will begin at 10.30am (AEST)
About Gentrack
Auckland-based Gentrack is a developer of specialist software for energy
utilities, water companies and airports around the world. It employs 180
people in offices in Auckland, Melbourne and London and services more than
150 utility and airport sites in 20 countries.
Gentrack is comprised of two leading software products - Gentrack Velocity
and Airport 20/20. Gentrack Velocity is a specialist billing and CRM product
designed for Energy utilities and Water companies. Airport 20/20 is a
comprehensive Airport Management System engineered to optimise an airport's
operations and enhance the passenger experience.
End CA:00252019 For:GTK Type:LISTING Time:2014-06-25 13:36:44
