New Zealand rental company Hirepool has named Brian Stephen its new chief executive, adding to speculation that the equipment rental company will soon go public with a listing on the New Zealand Stock Exchange, New Zealand’s stuff.com.nz is reporting. A statement from the company said Stephen was appointed to head Hirepool “through its next stage of growth.”
Speculation about Hirepool’s owners taking the company public has been active for a couple of years. However, a company insider who spoke to stuff.com.nz anonymously, said an IPO was “imminent.”
Stephen was previously chief executive of Hirequip before Hirepool acquired it in July 2012.
According to the Australian Financial Review, Hirepool is prepared to list with a market capitalization of about A$300 million (about U.S. $278 million).