Nick Lissette founder and chief executive of Blackpearl Group. Photo: Supplied
The stock exchange is to get a rare new listing in the form of technology acquisition company Blackpearl Group, which is looking for a platform for future growth.
Blackpearl describes itself as a technology company that builds, acquires, and markets data-driven cloud services to provide applications for small and medium-sized businesses.
The company is only doing a compliance listing and is neither seeking capital nor any sell down of shares.
Founder and chief executive Nick Lissette said it was being done with an eye to the future.
"A direct listing on the NZX offers us the fastest and lowest cost means of moving to a public platform to support future growth," he said.
"Our goal for the intended listing is to accelerate acquisitions by being able to offer stock in a listed entity as part of our offer to companies we wish to acquire," he said, adding that the listing offered the chance to raise capital in the future.
The company would have a capitalisation of around $45 million, Lissette said.
The company has 83 shareholders, according to Company Office records, led by VTPE Investments of Scottsdale Arizona in the US, with a 12.9 percent stake, with the Lissette linked Teamwork Group holding 10.2 percent.
Other significant shareholders include prominent businessman Sir Owen Glenn and the Accident Compensation Corporation, with a wide spread of smaller New Zealand, US, and British based investors.
Blackpearl was founded in 2012 and has offices in New Zealand, and Phoenix, Arizona.
The company currently has two major email products, Blackpearl Mail and recently acquired New Old Stamp, offering email products and applications for small and medium sized businesses.
Lissette said the company's strategy was to acquire technology companies, which offered access to new products, talent and markets, rather than acquisition for revenue.
"Our private platform enables us to help the businesses we acquire accelerate their growth and development."
He said takeovers and mergers in the sector tended to be a mix of cash and shares in the acquiring company.
Black Pearl will list somewhere around 2 December subject to final approvals from NZX and NZ RegCo.