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Vocus NZ is best known to most Kiwis as the owner of the broadband brands Slingshot and Orcon.
The country’s fourth-largest telecom company, Slingshot and Orcon owner Vocus New Zealand, may emerge on the NZX by the end of next year.
Australian owner Vocus said he planned to sell the company through an “initial public offering” by then, depending on market conditions.
Vocus said in a statement to the Australian Stock Exchange (ASX) that its board considered that the New Zealand business had significant opportunities that “would be better exploited if Vocus New Zealand is an independent entity.”
Vocus NZ has 226,000 broadband customers, making it the third largest player in the landline market after Spark and Vodafone NZ, and the fourth largest telecom company overall, after 2 grades.
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It reported revenue of just under $ 400 million for the year through June and employs around 600 people.
Vocus did not say if it could retain any stake in the firm, but Vocus New Zealand CEO Mark Callander said a 100 percent sale could be possible.
It was too early to say whether Vocus NZ would change its name, but that would be one of the considerations to be addressed, he said.
Vocus New Zealand CEO Mark Callander says its main listing will be on the NZX.
The company would be trading twice on NZX and ASX, but the main listing would be on NZX, he said.
Speculation that the ASX-listed Vocus could go out of business via an initial public offering has been circulating for months.
A previous attempt by Vocus to sell the business through a commercial sale to reduce its debt and leverage was retained in 2018 after the offers it received fell short of its expectations.
Vocus has appointed Goldman Sachs, Jarden and Craigs as joint lead managers for the stock market float.
The company said it would provide additional details on its plan in February.
