Car dealership NZAI goes public

Thu, 18 Feb 2021

Car dealership NZ Automotive Investments will go public next week in a direct listing on the NZX with a valuation of $60 million.Board chair Karl Smith says NZAI is listing to support long-term growth, in particular to access capital in the future for expansion of its vehicle finance company.It is not raising any money so it is not an initial public offer but what's called a direct listing.NZAI currently operates two subsidiaries, an automotive retailer called 2 Cheap Cars and vehicle finance brand NZ Motor Finance.The company said it is re...

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