Sharechat Logo

Pushpay's bookbuild for co-founder's stake sale fully underwritten at $4 a share

Tuesday 19th June 2018

Text too small?

Deutsche Craigs is seeking bids for the 24.8 million shares, or a 9.03 percent stake, in Pushpay Holdings that co-founder Eliot Crowther is looking to sell.

The deal is underwritten at $4 a share, which is an 8.8 percent discount to the five-day volume weighted average price and values the stake at $99.2 million, the company said. 

The completion of the bookbuild, overseen by Deutsche Craigs and Craigs Investment Partners, is expected to be announced later today. 

Crowther is leaving the mobile payments app developer, valued at $1.2 billion by market capitalisation, for personal reasons to focus on his family.

Trading in Pushpay shares, last at $4.37, has been halted since Monday pending the sale.

(BusinessDesk)

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ dollar falls with Aussie after Westpac's RBA rate cut call
Intuit juggernaut grows QuickBooks subscribers but momentum slows
Reaction to Budget rules relaxation shows balance 'about right', says Ardern
Augusta lifts net profit six fold as investors flock into new funds
Annual exports to China top $15 billion for first time
Gentrack posts $8.7M loss on CA Plus write-down
Westpac says RBNZ capital proposals would add $6,000 p.a. to an Auckland mortgage
Cavalier says market conditions still challenging
Ryman hikes dividend as annual earnings grow on wider development margin
24th May 2019 Morning Report

IRG See IRG research reports