News story

Napier Port eyes $200 million in IPO

Wednesday, 24 July 2019 ( #933 ) - Napier, New Zealand
Napier Port is planning an IPO
Napier Port is planning an IPO
Napier Port aims to raise more than $200 million on the share market to help ease congestion woes.

The Hawke's Bay Regional Council is to list a 45% stake of the country's fourth-largest port after consultation with rate payers.

Funds raised will go to paying back debt and construction of a new wharf.

Brokers have estimated the launch price at between $2.27 and $2.60.

Hawke's Bay residents and port workers will have first priority for the 90 million available shares.
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