$4.74b of new capital was raised and 16 new listings were added to the NZX in 2014, making it the busiest year for floats since 2004. With the exception of the Government's listing of Genesis Energy, the offerings were a mix of small to mid-sized businesses seeking growth capital, entrepreneurial roll-up transactions and private equity exits.

We expect the IPO pipeline to keep pumping on the back of continued low interest rates and bond yields and a supportive and enabling regulatory environment. The continued strength of the equity capital markets means that the option of an IPO exit is increasingly being considered alongside the more traditional M&A route. See our report: New Zealand Equity Capital Markets – trends and insights, for more analysis.

The information in this article is for informative purposes only and should not be relied on as legal advice. Please contact Chapman Tripp for advice tailored to your situation.