Vista shares sold at $5.30 apiece, bringing new investors to register

Monday 21st March 2016

Vista Group International will resume trading today after a quarter of the company was sold to institutional investors and retail brokerages at $5.30 a share.

Twenty shareholders, including chief executive Murray Holdaway and director of commercial and legal Brian Cadzow, sold about 20.4 million shares in an underwritten bookbuild. The sale was run by Macquarie Capital and Macquarie Securities (NZ), which paid $5.25 a share in a block trade for the 26 percent stake, for a gain of about $1 million.

"The sale was completed to a range of institutional and retail broker firms and it has achieved the goal of introducing several new institutional shareholders to the Vista register and support from new retail brokerages," Vista said in a statement. "The sale was also well supported by existing institutional shareholders."

Vista listed in August 2014, raising $92 million, of which $40 million was new capital earmarked to fund acquisitions, development plans, and reduce debt. The shares sold at $2.35 in the initial public offering.

The shares were held by staff and were subject an escrow period that lifted this month.

The stock last traded at $5.60. The halt on trading will be lifted before the market opens today.

BusinessDesk.co.nz

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