Investors rush to gold IPO
Wednesday 10 March 2004
Investors have snapped up the chance to buy into the South Island's new gold business, with Oceana Gold's initial public offering closing oversubscribed.
By The LandlordThe company, which is being spun off from Perth's GRD NL, has raised $A100 million ($NZ112 million).
The cash will be split evenly as equity for the new company and pay back for the sell down of GRD's interests.
Oceana Gold will have a dual listing in Australia and New Zealand and will comprise the assets of the existing GRD Macraes mining business in Otago as well as the company's interests in the Reefton goldfields.
Read More - Opens in a new window
Commenting is closed
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.