Utility and airport management software company Gentrack is aiming to raise more than NZ$100 million through a public offering of just under 60% of the company's shares.
The Auckland, New Zealand, based company, which generated NZ$40 million in sales in 2013, bolstered its board earlier this month in a move widely perceived as preparation for a listing announcement.
According to the National Business Review, Gentrack aims to raise NZ$101.8 million in its offering next month.
The shares will reportedly be offered at a price in the range of NZ$2 to NZ$2.50. The offer will open on June 9, after a bookbuild, and close on June 20.
Gentrack develops the Gentrack Velocity billing platform for utilities and Airport 20/20 for airport management. It claims 150 customers in 20 countries and employs 180 staff.
Gentrack was the second New Zealand company to announce a listing today,cloud travel management company Serko.
The New Zealand Stock Exchange is offering high valuations for such tech stocks. Wellington-based cloud accounting company XeroForbes' list of global growth companies last week, in an analysis based on how high investors had bid up stock values in expectation of future growth.