Investors have snapped up all of the $65 million worth of shares being sought by intelligence software-maker Wynyard Group, but at the low end of the $1.10 to $1.65 a share range nominated by joint lead managers UBS and Forsyth Barr.

The shares will list on NZX on Friday.

Investors interviewed by The New Zealand Herald earlier this week indicated some caution over the capital raising, which only leaves $26m to fund ambitious global growth plans.

Some $23.6m is earmarked as payment for assets from Jade Corp, the Christchurch software firm which spun out Wynyard.

Another $12 million will repay debt, some of which is owed to Jade.

Some investors saw this structure as a negative for a company that is still projecting losses in the next two years.

“Wynyard Group is pleased with the support from institutional investors and retail broker firms in New Zealand,” chief executive Craig Richardson said in a statement.