Aviation company Airwork debuted on the NZX on Thursday morning at a 5% premium to the issue price of $2.60.
The initial public offer raised $37.5 million selling more than 14 million shares, exceeding the $30 million dollar.
Hugh Jones remains the major shareholder with a 61% holding.
Chairman Mike Daniel and associated interests have lifted their stake by acquiring a further 420,000 shares in the IPO.
Airwork owns, operates, maintains and upgrades helicopters and fixed-wing aircraft.
Its clients include emergency services, law-enforcement agencies, and firms in the oil and gas and tourism sectors.
The company is forecasting sales will grow 5% to nearly $125 million in the 2014 financial year while operating profit will rise 5% to nearly $39 million.
