Craft beer brewer Moa is expected to register the prospectus for its sharemarket listing today.
The company, which is looking to raise $15 million to fund an expansion of its Blenheim brewery, is holding a media conference this morning, during which new details about its initial public offering will be released.
A market source said the deal had been priced and was oversubscribed, with four institutions already committed to investing in the brewer.
A further $1 million in oversubscriptions is anticipated.
The Business Herald understands Moa is expected to be valued at between $18 million and $24 million before the float.
Last week the Auckland-headquartered company said the NZX listing, which would also fund increased working capital and marketing, would take place this month if it went ahead.
Moa's pre-float shareholders include the Business Bakery - which is co-owned by Moa chief executive Geoff Ross and has a 42 per cent stake - Pioneer Capital and Allan Scott Wines.
Earlier this year Moa general manager Gareth Hughes said the firm was seeing strong growth, with domestic sales doubling year-on-year and export revenue surging by close to 200 per cent a year.
Its export markets include the United States, Australia, Singapore, Hong Kong, Cambodia and Vietnam.
The company was founded in 2003 by Josh Scott, the son of well-known Marlborough winemaker Allan Scott.
The float will give New Zealand a locally listed brewery for the first time since Auckland-based brewing giant Lion delisted from the NZX in 2009 following its acquisition by Kirin, a Japanese brewer.
Craigs Investment Partners and Forsyth Barr are the joint lead managers for the Moa offer.