New Zealand King Salmon Announces Intention to File Initial Public Offering
SEAFOODNEWS.COM [SeafoodNews] August 29, 2016
New Zealand King Salmon Investments Limited (NZKS), confirmed its intention to undertake an initial public offering of shares in New Zealand and a listing on the NZX Main Board and ASX.
The company generated revenues of $114.1 million and earnings of $16.0 million as of the end of its most recent fiscal year in June. New Zealand King Salmon expects to declare dividends of $5.0 million, about 50 percent of forecast profits after tax, and $5.6 million in 2018. It anticipates dividends will be fully imputed.
The proceeds of the offer will be used to repay debt, fund future investment and working capital, and to enable investor Direct Capital and some other shareholders to realise some or all of their investment...
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