MEDIA RELEASE
26 June 2019
Napier Port is welcoming Hawke’s Bay Regional Council’s decision today to support an Initial Public Offer (IPO) of
shares in the Port’s holding company .
Hawke’s Bay Regional Council today gave approval for Napier Port to proceed with a 45 per cent IPO of shares, which will
include a priority offer for Hawke’s Bay residents and non-resident ratepayers, iwi and Port staff.
Napier Port Chairman Alasdair MacLeod said the Port had been working hard to ready itself for the IPO and was looking
forward to bringing an offer to the public.
“After many months of work and careful planning, we are in the final stages of preparation for the offer. This includes
drafting of a product disclosure statement (PDS), which sets out all the material information potential investors in the
Port will need to know about the company.
“We look forward to telling our story more broadly once the PDS is released to the public,” Mr MacLeod said.
Napier Port is committed to keeping all those who will be eligible to take part in the priority offer informed of the
process. A website and a free phone number will be launched soon for residents and non-resident ratepayers to register
their interest, so they get information and updates on the process. In the meantime, Napier Port will communicate
directly with its employees and eligible iwi on the progress of the proposed IPO.
Napier Port is looking to formally launch the offer in mid-July, with listing on the NZX in August.
Important Notice
Napier Port Holdings Limited (Napier Port) is considering making an offer of shares. No money is currently being sought
and the shares cannot currently be applied for or acquired under the potential offer. If the offer is made, it will be
made in accordance with the Financial Markets Conduct Act 2013. Nothing in this media release constitutes an invitation
to subscribe for, or an offer of, shares, securities or financial products to any person, whether in New Zealand or in
any other country.
It is intended that an application will be made to NZX Limited (NZX) for permission to list Napier Port and to quote its
shares on the NZX Main Board. It is expected that Napier Port will be granted a Non-Standard designation. However, NZX
accepts no responsibility for any statement in this media release. The NZX Main Board is a licensed market operated by
NZX, which is a licensed market operator, regulated under the Financial Markets Conduct Act 2013.
About Napier Port
Napier Port is New Zealand’s fourth largest port by container volume. We are the main gateway for Hawke’s Bay exports
and operate a long-term regional infrastructure asset that supports the regional economy. Our strategic purpose is to
collaborate with the people and organisations that have a stake in helping our region grow.
ends