Wynyard Group is planning to raise up to $70 million in a share market listing next month.
The Auckland-based security software company was spun off from Jade Software and will use the money to take control of its intellectual property and fund its growth.
The company wants to raise up to $65 million in a share offer, and up to $5 million in oversubscriptions.
Wynyard says it can't yet speak about the IPO, because its prospectus has not yet been accepted by the New Zealand Stock Exchange.
But according to the prospectus filed with the Companies Office, the indicative range for its shares will be between $1.10 and $1.65, valuing Wynyard at between $115 million and $141 million.
Wynyard has yet to make a profit and isn't planning to for the foreeable future.
It says it will use $26 million to fund its growth strategy and needs cash to buy intellectual property from its former parent company as well as repaying $10 million dollars of debt owed to Jade.
Wynyard says it has excellent growth prospects, but a large chunk of its revenues come from a small number of clients, and its earnings would be hit if it lost just one of them.
The offer closes on 24 June and trading in the shares commences on 19 July.