Energy Mad to offer shares

Christchurch-based light bulb maker Energy Mad has announced an initial public share offer to raise up to $10 million and aims to list on the stock exchange in early October. The offer values the company, which makes energy-efficient light bulbs, at $37m. Up to 10 million new and existing shares would be made available to new investors at an offer price of $1. The offer opens on August 29 with the company to market it among New Zealand brokerages with that process to close on September 23.