New Zealand's largest glass manufacturer, Metro Glass, still counts its initial public offer as a success, despite the price being set near the bottom of the range it hoped to achieve.
Metro Glass has priced its shares at $1.70 each, valuing the company at $314.6 million.
The shares are set to begin trading on the NZX on 30 July.
Chief executive Nigel Rigby said the offering was more than two times oversubscribed, and that the company's success was based on its ability to deliver customised products, with short lead times, throughout New Zealand.
It processed more than two million square metres of glass per year and had a more than 50 percent share of the market, he said.
"It's a New Zealand-based business, and our business model is very much designed around short lead times, customised product and we do everything from selling to consumers in the home retrofitting their own homes to supplying window manufacturers double glazed units for windows."
Mr Rigby said the strength of the New Zealand construction market was helping the company's bottom line, and it was well placed to take advantage of future opportunities.
The company has 719 employees, from the upper North Island to the lower South Island.
