Z Energy to raise up to $900 mln via IPO in payday for Infratil, NZ Super on 3-year investment

Thu, 25 Jul 2013

By Paul McBeth July 25 (BusinessDesk) - Z Energy, the petrol station chain, plans to raise up to $900 million in an initial public offering next month, allowing owners Infratil and the New Zealand Superannuation Fund to crystallise some of their profits on the three-year investment. The chain’s indicative price range is between $3.25 and $3.75 a share, giving an implied market capitalisation of between $1.3 billion and $1.5 billion, and making it the 15th or 16th biggest company on the stock exchange. Wellington-based Z won’t retain any o...

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