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Fresh bid for Storage King values company at A$2.2b
Lachlan Colquhoun
Mon, 14 Jul 2025
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Tāmaki-Makaurau by-election announced
Prime Minister Christopher Luxon announced the Tāmaki-Makaurau by-election will be held on September 6. The by-election follows the death of Te Pāti Māori MP Takutai Tarsh Kemp. The by-election writ day will be July 30 and the deadline for candidate nominations is midday on August 5. Former Newshub broadcaster Oriini Kaipara has been chosen as Te Pāti Māori’s candidate, while sitting MP Peeni Henare is Labour’s candidate.
IkeGPS completes $18m placement with ‘strong over-demand’
IkeGPS has competed an A$18 million ($19.6m) fully underwritten placement with “strong over-demand from existing investors" as well as "multiple new long-only ASX institutional investors”.
The NZX and ASX-listed company, which announced the capital raise on July 10, said this morning that new shares under the placement would be issued at a price of A$0.81 or NZ$0.88 each.
Proceeds from the raise will be used to fund new product development to “maintain and extend IKE’s market leadership”, to accelerate sales and marketing efforts, and to provide balance sheet flexibility to execute on potential strategic bolt-on acquisition opportunities and general working capital.
The company said it would develop two important new next-generation subscription product modules in collaboration with its extended customer council, which are intended to "extend Ike’s value in how utilities and communications companies capture, digitise, and manage their distribution networks".
Marsden Pt biorefinery project delayed
A decision on developing a biorefinery at Marsden Point has been pushed back to 2026 as landowner Channel Infrastructure stressed the project remained conditional and “highly complex”.
In a statement to the NZX, Channel Infrastructure said the development consortium – engineering consultancy Seadra, Qantas, Renova, Kent and ANZ – had completed an initial front end engineering and design study.
“The consortium’s work is now focused on completing the plant configuration for the Marsden Point site and updating the FEED study, commercial contracts with suppliers … and customers, confirming consenting requirements for site lease with Channel, plant build and operation of the biorefinery, and completion of financing arrangements,” the company said.
When Channel announced the project last September a final investment decision was due in the second half of this year.
The project proposes to buy decommissioned crude oil refinery plant and lease 18-20ha of land from Channel.
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Kate McVicar and Brent Melville
Wed, 09 Jul 2025
