NZX-listed Precinct Properties NZ will form a new venture with a Singaporean government entity which has the potential to become a $1 billion business.
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NZ Automotive Investments unveils NZX listing plans
18 Feb, 2021 02:30 AM
4 minutes to read
NZAI chairman Karl Smith and chief executive David Page. Photo / Supplied
Aimee Shaw is a business reporter focusing on retail, small businessaimee.shaw@nzherald.co.nz@AceeyShaw
NZ Automotive Investments (NZAI), the company behind one of the country s largest used car dealerships 2 Cheap Cars, is gearing up to list on the New Zealand Stock Exchange next week. The company began working towards listing on the sharemarket in the second-half of last year and received its letter of approval this morning.
The shares will list at $1.30 each, valuing the business at about $59 million or 6.9 times ebitda.