US IT security firm looks at NZX for capital
Monday, 30 July 2007
NEW YORK, July 29 (Reuters): A $100 million United States data hosting company, whose clients include some of the truly big names in US Inc, looks likely to list on the New Zealand stock exchange (NZX).
The company, Diligent Board Member Services, wants to raise around $20m to expand its operations, and has had no shortage of big-name US organisations wanting to loan it money.
However, Christchurch-born chief executive Brian Henry said a New Zealand capital raising looked the best option. Capital offers from US private equity players also wanted control of the company, which Henry is reluctant to yield.
Diligent is a software-based company which allows companies to put all their board meeting and other confidential papers online, and have them uniformly updated in an instant.
While control of IT hosting is done out of New York, the files of top secret company information is stored in cities across the US and protected by armed guards, as well as every electronic safety device.
The company, Diligent Board Member Services, wants to raise around $20m to expand its operations, and has had no shortage of big-name US organisations wanting to loan it money.
However, Christchurch-born chief executive Brian Henry said a New Zealand capital raising looked the best option. Capital offers from US private equity players also wanted control of the company, which Henry is reluctant to yield.
Diligent is a software-based company which allows companies to put all their board meeting and other confidential papers online, and have them uniformly updated in an instant.
While control of IT hosting is done out of New York, the files of top secret company information is stored in cities across the US and protected by armed guards, as well as every electronic safety device.