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New Zealand's Laybuy Group raises A$80M via IPO

New Zealand-based Laybuy Group Holdings Ltd. raised A$80 million through its IPO.

The offering, which closed Aug. 25, comprised a A$40 million primary issuance of 28,406,371 new shares and a A$40 million sell-down of 28,368,794 shares by existing shareholders. The shares were allotted Sept. 3.

On listing, Laybuy will have approximately 174.5 million shares on issue, implying a market capitalization of A$A246 million at the IPO price.

The company commenced trading on the ASX Sept. 7 under the code LBY.

Bell Potter and Canaccord Genuity were the joint lead managers of the IPO, while Venture Advisory provided strategic and financial advice to Laybuy Group.