Cinema IT provider looks at share float
Vista Entertainment Solutions latest tech firm considering IPO
New Zealand software company Vista Entertainment Solutions looks set to join the rush of local technology businesses lining up to list on the sharemarket.
The Auckland-based firm, which has developed IT systems used by cinema operators, has been meeting Australian and Kiwi fund managers to gauge market interest ahead of a potential initial public offering (IPO), according to sources.
The reported that the float was expected to raise A$100 million ($110 million) and value Vista at A$200 million.
That would make it bigger than the forthcoming listing of software provider Gentrack, which will have a market capitalisation of around $174.5 million after its June 25 float.
Vista chief executive Murray Holdaway confirmed the company had engaged investment bankers Macquarie Capital to capital-raising options”.
“The company expects to provide a further update before the end of July, 2014,” Holdaway said.
Sources said the company might carry out a dual ASX/NZX listing.
Vista was well-established, had a “good story” and the offer would be well received if the pricing was reasonable, said a
“consider