Software development company INTAZ Ltd today announced plans for a $10 million public issue as it prepares to float on the unlisted securities market.
INTAZ chairman Mark Taylor said the company expects to release a prospectus next week, with the issue set to open on March 11 and close on March
26.
Forsyth Barr Ltd have been appointed as brokers, while investment bankers Cameron & Company will advise on the issue.
Wellington-based INTAZ is a health and safety solutions company producing a range of software packages for commercial organisations. Its existing customers include Woolworths and Powerco.
Mr Taylor said INTAZ had already attracted a number of major investors in its software development phase and the latest offering would enable INTAZ to establish a commercial structure for selling its software products into the New Zealand, Australian and United Kingdom markets.
Those markets shared similar legislative regimes for health and safety in the workplace and a growing focus on reducing industry accident rates, Mr Taylor said.
INTAZ' directors include Mr Taylor, Cameron & Co partners Nigel Bingham and Rob Cameron, CentrePort chairman Nigel Gould, Celentis Ltd chief financial officer Roy Savage and INTAZ co-founder Dianne McIntyre.
The company's major investor is INTAZ Holdings Ltd, the investment vehicle for Quay Capital Partners, a Cameron & Co affiliate.
- NZPA
