Transport Investments Ltd to list via Bethunes backdoor

Thu, 26 Oct 2017

By Paul McBeth Oct. 27 (BusinessDesk) - New Plymouth-based freight and logistics group Transport Investments Ltd plans to join the NZX through a backdoor listing via Bethunes Investment in a deal valuing the group at $200 million. The reverse listing will see Bethunes issue 73.3 million shares at $1.50 apiece, roughly $110 million in total, with the rest paid in cash, which will be covered by a new $100 million funding line with ASB Bank. Bethunes will consolidate its shares on a 254.19-for-one basis which would boost its share price to...

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