There is already quite a long list of potential floats named this year. One that has already been announced is Melbourne-based accounting software company MYOB which hopes to finalise its listing price on the ASX by the end of this month. The company, which competes against Xero in New Zealand and Australia, hopes to raise up to A$830 million in the float.
What could be the biggest IPO of the year is Carter Holt Harvey, which Graeme Hart, New Zealand's richest man, is said to be planning to float soon. It's expected Hart's Rank Group will retain a cornerstone stake in the building supplies and timber products business and look to raise as much as $1 billion.
Queensland-based Kern Group, which was behind last year's $132 million float of childcare centre roll up Evolve, is understood to be considering a similar IPO roll up in the property market. Another two IPOs being touted are Auckland-based insurance firm CBL and life insurer Partners Life.
CBL raised A$55 million in a secured offer late last year and is now assessing its options for an IPO in the next couple of months while Partners Life raised $31.6 million last year to fund its next phase of growth and said it was a precursor to a NZX listing within in the next two years.
Powerhouse Ventures, one of the three new technology business incubators part-funded by the government, says it is on track to raise about $40 million in an IPO on the main board later this year to raise capital for growth.
The new NXT market is also expected to have its first listing by June.
Williams said in Nikko's case its funds were already fully invested so any IPO has to be more palatable than its existing assets and a lot of that came down to pricing.