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Quayside Holdings is the company that conducts a range of commercial investment and funding activities for the Bay of Plenty Regional Council. The most significant of these investments is a 55% stake in Port of Tauranga.
The Bay of Plenty Council launched this Perpetual Preference Share issue for the primary purpose of investing in infrastructure projects in the Bay of Plenty region. Projects the Council intends to fund include roading and transport infrastructure, passenger transport, regional parks and broadband infrastructure.
Acting NZX Market Development Manager, Damas Potoi said, “It is encouraging to see the Bay of Plenty Regional Council accessing NZX’s markets in this way. This listing gives them the flexibility to retain valuable assets while enabling them to finance initiatives that will support infrastructure development in the region.”
The council believes that continued investment in infrastructure is vital to long term growth and the prosperity of the Bay of Plenty region.
Environment Bay of Plenty Chairman, John Cronin said, “This is an innovative approach for a regional council. Our council is doing its best for the Bay of Plenty community, and through this issue is able to channel funds to further progress sustainable projects in the region.”
First NZ Capital and ABN AMRO Craigs were joint lead managers of the Quayside Holdings issue. The Quayside Holdings Perpetual Preference shares were quoted on the NZDX Market under the security code QHLHA from 9am today.
For more information, please contact:
Lucy McFadden
Communications
New Zealand Exchange Limited
04-496-2890
027-512-7832