Mike Pero looking to list

Less than a month after taking control of the Mike Pero Mortgages business new owner George Gould is looking to list the business on the New Zealand Stock Exchange.

Monday, March 29th 2004, 7:42AM

Good Returns understands a prospectus is being prepared and the company aims to raise between $7 million and $10 million in an IPO next month.

The Press reports South Island sharebroker Greenslades has been appointed lead manager, and that the listed company will have a market capitalisation of about $25 million.

The company is looking to list on the NZX’s main board as opposed to the NZAX.

The company, which was established by Mike Pero in 1990, consists of 35 franchised brokerages around the country.

Late last year Pero bought back from South Canterbury Finance the 50% he didn’t own, then earlier this month sold 90% of the business of Christchurch businessman George Gould.

Pero has kept a 10% stake, and will continue to be the public face of the company. A new chief executive is been appointed to free him from the day-to-day running of the business.

Gould has indicated that his aim is to take Mike Pero Mortgages to a new level, including possibly expanding overseas.

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Mike Pero looking to list

Less than a month after taking control of the Mike Pero Mortgages business new owner George Gould is looking to list the business on the New Zealand Stock Exchange.

Monday, March 29th 2004, 7:42AM

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