Latest IPO sees Airwork’s shareholder Hugh Jones to sell up to $40 mln stake

Tue, 19 Nov 2013

Nov. 19 (BusinessDesk) - Airwork Holdings, the aviation services specialist, is set to join the NZX next month as majority shareholder Hugh Jones looks to sell up to $40 million of shares in an initial public offering. The company is offering up to 15.4 million shares, or 30.6 percent, at $2.60 apiece, to buy back shares from Jones and repay debt, according to its prospectus lodged with the Companies Office. That implies a market capitalisation of $130.6 million. The IPO is made up of a broker firm offer and an institutional firm, and won’...

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