27 May 2014

Specialist software company to list

7:52 am on 27 May 2014

Gentrack is planning to raise up to $100 million and to seek a listing on the New Zealand and Australian stock exchanges.

Its software is installed in 150 utility and airport sites around the world with clients such as Genesis Energy, Meridian Energy and Vector.

The specialist utilities and airports software company aims to issue up to 18 million new shares to raise $36 million in new capital, and sell 26 million of existing shares with an indicative price range of between $2 and $2.50 a share.

Chief executive James Docking said the capital raised will be used to pay down existing debt of $33 million and create a platform for further growth.