9 Jun 2014

Hirepool confirms NSX float

2:42 pm on 9 June 2014

After months of speculation, Hirepool has confirmed it is planning a float on the stock market.

The equipment hire company says a prospectus should be available Monday 16 June.

There have been rumours about a potential float for some months.

The price of shares will be set following a bookbuild process, which will take place after the prospectus is released next week.

Last year, Hirepool's owners, the New Zealand Rental Group, also took over HireQuip.

Brian Stephen, who was chief executive of HireQuip throughout the take-over, was made the chief executive of Hirepool in March this year.

Hirepool said the chief executive won't speak about the move, for fear of breaching stock market rules.