EROAD signals intention to list

The directors of Auckland-based EROAD Limited have announced the company is considering an initial public offering and a listing on the NZX Main Board.

EROAD expects to raise $40 million of new capital to allow it to accelerate its growth strategy for the EROAD electronic system to manage and pay road user charges, support regulatory compliance and provide value-added commercial services to the heavy vehicle industry.

The company says a prospectus is expected to be available in mid-July and expects the shares to be quoted on the NZX Main Board in mid-August.

The sole manager for the offer is First NZ Capital, and the co-manager for the offer is Deutsche Craigs.

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