Hawkesby family firm to float on stock exchange

Duncan Hawkesby, left and Graeme Hart, pictured in 2010. Photo / Norrie Montgomery

Fliway, a transport and logistics company owned by Duncan and Gretchen Hawkesby, has confirmed it will be the first new listing on the NZX this year.

Managing director Duncan Hawkesby is the son of high profile newsman and winemaker John Hawkesby. His wife Gretchen Hawkesby is the daughter of New Zealand's richest man Graeme Hart.

In a statement this afternoon the company said it would look to raise $30 million to $50 million and list on the main board of the NZX.

The offer would include new and existing shares to "raise capital while allowing my family to retain a significant shareholding in Fliway," Duncan Hawkesby said.

Forsyth Barr has been appointed arranger and lead manager for the offer.

On its website Fliway is described as one of NZ's largest fully integrated logistics providers offering global supply chain solutions - from international freight to warehousing & domestic delivery to business or the home.

It has a staff of more than 400 and claims a competitive advantage in its "leading edge" IT capabilities.

Yesterday law firm Chapman Trip - which has advised on many of the markets recent listings - released a report on the state of the local equity market.

Partner Roger Wallis said he wouldn't be surprised to see up to to 20 companies float this year.

That would beat the 16 main board and NZAX listings last year, adding $4.7 billion to New Zealand's equity market capitalisation. Last week, NZX chief executive Tim Bennett said demand for small and mid-sized initial public offerings (IPOs) was at a similar level to this time last year.

Other firms previously tipped to be considering listing on the new market include Auckland's Invivo Wines and technology developers Straker Translations, Fronde and Booktrack, Results.com and International Telematics.

Read the Chapman Tripp NZ equities report here: