Scales seeks up to $186.5 mln in July IPO

Fri, 20 Jun 2014

By Suze Metherell June 20 (BusinessDesk) - Scales Corp, the fruit and vegetables logistics group, is seeking up to $186.5 million in a July initial public offer, which aims to raise $30 million of new capital and let its major shareholder, private equity firm Direct Capital, sell down its stake. The Christchurch-based company will sell up to 100.8 million shares at an indicative price range of between $1.60 and $1.85 per shares, it said in a statement. Of that, Scales will offer between 16.2 million and 18.8 million new shares, while Dir...

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