UPDATE: Fliway falls 2.6% after IPO that raised $34 mln

Thu, 09 Apr 2015

By Suze Metherell April 8 (BusinessDesk) - Fliway Group shares have fallen 2.6 percent in early trading on the NZX, after the transport and logistics company's $34 million initial public offering, marking the first listing on the bourse for 2015. The stock first traded at $1.22, before falling back to $1.17, or 3 cents below its offer price, and valuing the company at $45 million. Existing shareholders Duncan and Gretchen Hawkesby will retain 54 percent of the South Auckland-based company, after selling 20.9 million shares, fewer than the...

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