OHE
26/11/2014 10:23
LISTING
NOT PRICE SENSITIVE
REL: 1023 HRS Orion Health Group Limited
LISTING: OHE: Orion Health completes $125 million IPO
Orion Health completes $125 million IPO
Trading begins on NZX Main Board and ASX
Shares of Orion Health Group Limited (Orion Health, the Company) today began
trading on the NZX Main Board and ASX following a successful IPO that raised
$125 million including $120 million in new capital.
Strong demand for the shares from eligible institutions and the clients of
NZX firms saw the shares priced at $5.70, at the top of the indicative price
range of $4.30-$5.70.
Orion Health Chairman Andrew Ferrier says the Company is delighted to have
attracted the strong support of all its new shareholders.
"Both our new shareholders and those who have supported the company over the
last 21 years clearly understand the dynamics of the health data expansion
and Orion Health's ability to deliver world class solutions that will provide
better outcomes for patients, providers and those who fund healthcare
services."
"At Orion Health we are now well equipped with the necessary resources to
invest in further research and development to capture these once in a
generation opportunities."
Orion Health Founder and Chief Executive Officer Ian McCrae says health
sectors in many countries are keenly aware of the impending funding crisis
they will experience in the next few years. This will be driven by ageing
populations, the huge increase in health data likely to flow from new devices
and the demands of patients for greater control over their own healthcare.
"Orion Health is already at the forefront with solutions that are delivering
benefits to our 450 customers across 25 countries. We are now funded to
significantly increase our research and development efforts to expand our
capability and solutions for customers and I am very excited that many of
these great new roles will be in the New Zealand IT sector"
NZX Chief Executive Officer Tim Bennett says the addition of Orion Health to
the NZX Main Board is a further demonstration of the opportunities for
growing companies to gain the support of New Zealand investors.
"The listing of Orion Health today demonstrates the effectiveness of the New
Zealand capital markets. Since it was formed, Orion Health has had access to
private equity and now the public markets which has provided it the capital
to rapidly grow the business at each stage of its development."
Orion Health's shares trade with the code OHE on both the NZX Main Board and
ASX.
Deustche Craigs and First NZ Capital were Joint Lead Managers for the IPO.
Ends.
End CA:00258118 For:OHE Type:LISTING Time:2014-11-26 10:23:15
