New Zealand Post seeks investment partner for Localist

1 October 2012

New Zealand Post Group is seeking a capital investment partner in subsidiary company Localist Limited (Localist).

Localist is a digital platform that lets consumers discover and share the best things to taste, buy and do around where they live.   It is also a platform where businesses can enhance their online, mobile and social media presence and connect with consumers in their local markets.

Launched to market in early 2011, Localist has firmly established itself in the Auckland market and has shown strong growth in its digital business in 2012.

Having tested and proven its digital subscription business model in Auckland, Localist is now seeking to expand its geographic footprint, and will be announcing an enhanced range of digital products to the market shortly.

In line with New Zealand Post Group's strategic approach for Localist, it is seeking to attract one or more shareholders to help accelerate the growth of this digital asset.  The stage of development and growth potential of the business means it is the appropriate time to approach the investor community.

Localist has appointed Grant Samuel & Associates Limited as financial advisor for the capital raising process.