Z Energy jumps 6.6 percent on NZX debut, valuing company at $1.49 bln

Sun, 18 Aug 2013

Aug. 19 (BusinessDesk) - Shares in Z Energy jumped 6.6 percent to near the top of its indicative price range in its NZX debut today, valuing the service station chain at $1.49 billion. The stock first traded at $3.73, up from its $3.50 initial public offering price, and recently traded at $3.71, a 6 percent premium to the IPO. The petrol station chain is the latest listing on New Zealand’s stock exchange after owners Infratil and the New Zealand Superannuation Fund sold 60 percent of their stake in the company, delivering $420 million to eac...

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