Z listing ups value of Infratil’s remaining stake but reduces earnings

Tue, 20 Aug 2013

Aug. 21 (BusinessDesk) – Infratil’s remaining 20 percent stake in Z Energy is worth nearly as much as the book value of its half-share prior the sharemarket listing of the petrol station chain. The Wellington-based infrastructure investor said it received net proceeds of $396 million for the 30 percent of Z Energy it sold via an initial public offering. Gross proceeds were $420 million. The shares debuted on Monday at a premium to the offer price of $3.50 and were trading at $3.75 today, the top of the indicative price range. The value of I...

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