ERoad to raise $49.5 million in pursuit of US growth

Thu, 17 Jul 2014

By Suze Metherell July 18 (BusinessDesk) - ERoad, whose products allow transport companies to manage and pay road user charges and keep track of their fleet, is looking to raise up to $49.5 million in an initial public offer next month as it chases growth in the US market. The Auckland-based company will sell between 13 million and 15.7 million shares at an indicative price range of $3 to $3.80 per share, of which $40 million will be new capital, with existing shareholders selling between 2.4 million and 2.5 million shares and keeping abo...

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