Punakaiki puts off IPO for another year

Punakaiki puts off IPO for another year
The stock exchange keeps struggling to catch a break when it comes to new listings. (Image: Getty)
Paul McBeth
The Punakaiki Fund won’t go public this year as the slump in global markets and lack of appetite for initial public offerings in New Zealand and Australia threw up more hurdles to the 10-year-old fund’s aspirations. The early-stage investment fund had assets of $96.9 million at the end of June, including $3.3m of cash, up from $95.3m of assets at the end of the March financial year, when it was also sitting on almost $5m of cash. Chair Mike Bennetts signalled an initial public offering was unlikely in the coming year in hi...

More Markets

NZ sharemarket rises with gentailers leading
Markets Market close

NZ sharemarket rises with gentailers leading

Electricity gentailers pumped energy into the NZX.

Tom Raynel 09 May 2025
Steven Joyce to chair NZME
Markets

Steven Joyce to chair NZME

Tech expert Bowen Pan will also join, later on. 

Staff reporters 09 May 2025
NZME set to take on Trade Me for car sales
Markets

NZME set to take on Trade Me for car sales

Publicly listed NZME, owner of the NZ Herald and BusinessDesk, says it is exploring a new automotive digital classifieds platform, in a clear bid to take on Trade Me.Seeking to emulate the success of its property platform OneRoof, NZME said on Friday it had signed a memorandum of...

Staff reporters 09 May 2025
Bremworth getting back into synthetics
Primary Sector

Bremworth getting back into synthetics

Albeit in a small, but carefully curated, number of products.

Riley Kennedy 09 May 2025