Hirepool, New Zealand’s largest equipment rental company, has confirmed plans to go public with an initial public offering. The company hopes to raise NZ $250 million (about U.S. $214 million), according to New Zealand news reports.

The Auckland, N.Z.-based company is primarily owned by former chief executive Tenby Powell and his wife Sharon Hunter, with Australian private equity firm Next Capital also holding a large stake. The company expects to register a prospectus on June 16. On listing, Hirepool could have a market value of about $300 million, with Next Capital retaining a minority cornerstone shareholding, according to reports.

Hirepool said Deutsche Craigs, Macquarie Securities and UBS New Zealand are the joint lead managers with ANZ Bank New Zealand as co-manager.

Hirepool last year acquired top competitor Hirequip out of receivership. Earlier this year the company named Brian Stephen chief executive.