Evolve shares climb 7 percent on NZX debut

Thu, 04 Dec 2014

By Suze Metherell Dec. 5 (BusinessDesk) - Shares of Evolve Education Group, the childcare business, rose 7 percent on its NZX debut after its initial public offer raised $132.3 million in new capital to fund its acquisitions in early childhood education. The stock first traded at $1.07, up from its $1 offer price, and valuing the company at $189.5 million. The Auckland-based company, set up in May by Greg Kern and Russell Daly of Queensland-based Kern Group, issued 132.3 million in new shares, adding to the existing 8.1 million, to fund i...

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