Dan Carter-backed Laundromat seeks listing on New Zealand Stock Exchange (NZX)

Australian laundry and dry cleaning company Laundromap – with former All Black rugby player Dan Carter as one of its early investors – plans to list on the NZX late in the second quarter of this year.

The company — which lets customers have laundry collected and delivered from home or work with the help of a cellphone application — is in the process of buying 20 to 30 laundry and dry-cleaning businesses in Australia and New Zealand. It will be a compliance listing, which means the company will list its existing securities without making a public offer. Chairman Rob Levison said the laundry and dry-cleaning sector was one of the few industries yet to face a technology shake-up.

After looking at some dry-cleaning businesses, he saw an opportunity to make better use of their plant and machinery, which typically operated about 30 to 40 per cent of the time. The business is already up and running. It has obtained technology under licence from Britain’s Laundrapp for exclusive use in Australia and New Zealand. Laundromap has about 70 investors with no shareholder having a large, cornerstone stake. Carter and his business partner, former Crusaders player Ben Hurst, were among the first investors.