APN’s New Zealand operation plans listing, nominates new chairman

APN’s New Zealand operation, now rebranded NZME, has moved one step closer to its planned listing on the NZ stock exchange, with the apointment of a company chairman (designate).

APN News & Media Limited announced the appointment of Sir John Anderson as Chairman designate for a new company that will own the newly re-branded NZME businesses (see our earlier report).

APN Chairman Peter Cosgrove said as part of the ongoing consideration of an initial public offering (IPO), an approach had been made to Sir John to join the new NZME Board, subject to confirmation the listing would go ahead.

“It is a great endorsement for NZME that the company and management team can attract one of New Zealand’s most respected directors, who clearly sees the potential of the business and believes he can play an important role in helping shape its future success,” he said.

Anderson is one of New Zealand’s most experienced directors, and over many years had been involved in market leading and high profile organisations in New Zealand and Australia. He is currently Chairman of Steel & Tube Holdings Ltd, NPT Ltd, Deputy Chair of Turners & Growers Ltd and a director of the Commonwealth Bank of Australia. He was the former Chairman of the NZ Venture Investment Fund, Television New Zealand Ltd and PGG Wrightson Ltd. He was CEO and director of ANZ National Bank Ltd from 2003 to 2005 and National Bank of NZ Ltd from 1989 to 2003.

Peter Cosgrove also confirmed NZME has finished a program of presentations to banks as part of the proposed IPO process, and that it will be commencing a formal Request for Proposal (RFP) in the near future.

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