Vocus New Zealand to launch IPO by end of FY21

News Broadband New Zealand 19 NOV 2020
Vocus New Zealand to launch IPO by end of FY21

Australian operator Vocus has appointed financial advisers to execute an initial public offering (IPO) of Vocus New Zealand. The IPO is expected to be launched before the end of FY21. 

The company’s board expects the Vocus New Zealand IPO to provide increased balance sheet flexibility to the Vocus Group, allowing Vocus Network Services to invest in core long-term strategic fibre opportunities to extend its network reach, build on its product capabilities and strengthen its position as a fibre and network services provider. The IPO is also expected to enable the Vocus board to review its long-term dividend policy.

Vocus New Zealand is an integrated telecommunications services and energy provider, and owns a national fibre infrastructure network. The company reported revenue and EBITDA growth over the past five years.

Goldman Sachs, Jarden and Craigs have been appointed as joint lead managers of this process. Vocus plans to release further details with its half-year results in February 2021.

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Vocus

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New Zealand

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