Cavotec pairs listing with capital boost

Industry Database

New Zealand Stock Exchange-listed Cavotec MSL aims to raise significant capital in tandem with its October transfer to the NASDAQ OMX Stockholm Exchange.

Noting the need to “take market conditions into account”, Cavotec chairman Stefan Widegren said the preference was to “raise additional capital in conjunction with the proposed OMX Stockholm listing”.

Having revenue of NZ$111m (US$92m) when publicly listed in 2006, Switzerland-headquartered Cavotec is expected to report NZ$200m revenue next year and has announced a goal of reaching NZ$500m to NZ$1bn revenue within a decade.

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