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

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)

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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

EBOS announces appointment of new Chief Financial Officer
AM Best affirms Tower Limited's A- (Excellent) FSR
MCK enters into conditional agreement for Whangarei land
April 26th Morning Report
SPG - Change to Executive Team
BGI - Forgiveness of $200,000 of secured indebtedness
General Capital Subsidiary General Finance Market Update
AFT,Massey Ventures,Gilles McIndoe to develop scar treatmen
April 24th Morning Report
Cheers to many fewer grape harvest spills