Cinema management software developer Vista Group to list

Vista Group, a developer of cinema management systems, is poised to dual list on the NZ Stock Exchange and the Australian Securities Exchange.

Cinema management software company Vista Group International has added to the run of New Zealand technology companies heading to a listing, despite global sentiment on growth stock turning south.

Vista has registered a prospectus (pdf) seeking NZ$40 million in capital, but there will be no public offer. Instead, the offer is limited to the broker firm, employees and institutions.

Vista Group provides cinema management software, film distribution software and customer analytics software to companies across the global film industry.

Existing shareholders will retain between a 45% and 49% shareholding in the company. 

Funds raised will be used to pay off debt and to move to control of film distribution software firm MACCS and analytics company Movio.

Vista's pro forma revenues totalled NZ$38.7m in 2013.

Travel management software developer Serko listed on the NZX nearly two weeks ago at NZ$1.10 but was trading at NZ$1.02 earlier today. Cloud accounting software vendor Xero has come off a high of nearly NZ$45 in March to trade at NZ$26.37 earlier today.