Armstrong's IPO off the road for now

Rick Armstrong and Troy Kennedy pictured in the Armstrong's head office. (Photo: supplied)

Mon, 21 Mar 2022

Car dealership Armstrong’s has hit pause on its plans to dual list on the NZX with an initial public offer (IPO) that had been expected to happen early this year.Chief executive Troy Kennedy said the company had decided to wait for more stable market conditions before attempting the offer.“It was important to the team we get this right for investors and the business. We’re prepared to be patient and to continue executing on our growth agenda in the meantime,” he said in a statement.Financial markets have been particularl...

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