Connexion Public Offer Meets Strong Interest

Connexion Public Offer Meets Strong Interest

8 September 2002

As befits a company involved in electronics engineering, Connexionz Limited's website is handling a strong demand for downloads of the prospectus and investment statement for its public offer of shares.

The Christchurch company is offering 4.5 million $1 shares for quoting on the unlisted securities market. The offer opened on 27 August and is due to close on 20 September.

Connexionz has successfully developed a real time passenger information system called Bus Finder.

It uses GPS satellites and mobile radio to track buses and provide their accurate arrival times on illuminated signs at bus terminals and through self-powered touchscreens at bus stops.

"So far there have been 3600 downloads of the prospectus and investment statement from the Connexionz website," said Connexionz executive director Tony Kan.

"This compares with requests for 3200 hard copies of the prospectus made so far, and reflects the increasing role of websites in providing public offer documents," said Mr Kan.

The public offer's subscription minimum had been reached in the first few days and the offer had experienced wide interest from sharebrokers, with numerous broker presentations, said Mr Kan.

Connexionz was last week named as a finalist in the Energy Efficiency and Conservation Authority's 2002 EnergyWise Awards, for its Bus Finder system.

The Awards recognise leaders in sustainable business practice through energy efficiency and use of renewable energy.

ENDS

© Scoop Media