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Eroad seeks to raise $40 million with IPO

Eroad seeks to raise $40 million with IPO

A prospectus for the IPO is to be made available in mid July, and the Auckland-based firm expects shares to be on the NZX Main Board by mid-August.

The directors behind Eroad, transport technology and services provider, are working on an IPO (initial public offering) and a listing on the NZX Main Board.

The company would seek to raise $40 million in new capital to accelerate its growth strategy, with specific focus on its electronic solution that helps firms manage and pay road user charges and supports regulatory compliance.

A prospectus for the IPO is to be made available in mid July, and the Auckland-based firm expects shares to be on the NZX Main Board by mid-August.

The lead manager for the offer is First NZ Capital and Deutsche Craigs is the co-manager. Preliminary indications of interest can be made by contacting either of them.

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