ERoad shares priced at bottom end of range, owners sell fewer shares

ERoad shares priced at bottom end of range, owners sell fewer shares
By Suze Metherell July 29 (BusinessDesk) - Shares of ERoad have been priced at $3 apiece, the bottom of its proposed range, and existing owners sold less of their holdings as the logistics and fleet management company raises $40 million in new capital to chase growth in the US. The Auckland-based company will sell 13.3 million new shares, and existing owners will sell 2 million shares, fewer than the 2.4 million to 2.5 million flagged in the prospectus. Institutional investors will pick up 70 percent of the shares, which had been marketed...