NZ IPO Scales weighs in at bottom of price range

By Maggie Lu Yueyang

Scales, owner of grower, packer, shipper and exporter Mr Apple, plans to increase exports to premium Asian and Middle Eastern markets.  The prospectus had given a range of $NZ1. 60 to $NZ1. 85.

New Zealand agribusiness Scales Corp has set the price for its planned initial public offering at $NZ1. 60 ($1. 50) a share, at the bottom end of the indicative range given in its prospectus.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

The result follows a book build by New Zealand's Metro Glass, which priced its IPO at $NZ1. 70 ($1. 59) a share, also at the lower end of the indicative range.

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

Read more here: Business Spectator


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