New Zealand’s downstream Z Energy opens IPO

摘要

Sydney—New Zealand oil refiner and retailer Z Energy opened its initial public offering in which it hopes to raise up to NZ$900 million ($714 million), in the process becoming the country’s only listed downstream company. Z Energy expects its shares to be sold in between NZ$3.25, at which the IPO would raise NZ$650 million, to NZ$3.75, according to its prospectus. Depending on the share price, Z Energy would list on the New Zealand stock exchange’s main board at a market capitalization of between NZ$1.3 billion and NZ$1.5 billion.