Rapid growth tech company plans IPO

Software solutions provider Gentrack is considering an initial public offering and NZX listing as it expands its utility services business offshore.

The Auckland-based company has engaged investment bank UBS to manage a capital raising proposal and is testing market demand for a float.

Chief executive James Docking told NBR ONLINE Gentrack has expanded rapidly and now earns 70% of its revenue from overseas markets. Going public would provide access to capital and reassure global customers, many of who rely on Gentrack for long-term billing systems, he said.

 

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