NEW ZEALAND: Clothing Group Postie Plus In $20m IPO
The operator of almost 60 stores under banners like Rendells and Postie said 20 million shares would be offered at NZ$1.00 a share with the proceeds used for future acquisitions.
The company expects to post a full year net profit of NZ$4.65m on sales of NZ$107m for the 12 months to July 31.
Managing director, Paul Young, said: "The group's main growth focus is the expansion of Rendells and to a lesser extent Babycity. Further acquisitions are also likely."
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