After successful trading on the NZX boutique beer brewery Moa plans to extend it Blenheim operations, lifting bottle handling capacity from 14,000 to 50,000 cases in less than a year.
The company’s shares opened 10 cents above the debut price to trade at NZ$1.32 a direct reflection of high demand for the brewer.
This week Moa released NZ$1 million worth of publically available stock which saw investors allocated only partial share allotments.
The company’s shares remain oversubscribed by 124 per cent.
Moa CEO Geoff Ross said the company is delighted with the support received from investors.
“We hope these people can support Moa post listing by looking to buy on-market and enjoying the Moa range of beers.” Ross said.
Stuff.co.nz reported that 38.4 per cent of the company was sold to retail and institutional investors, raising an extra NZ$15 million.