A2 Corp, in talks to move to main board, halts trading

A2 Corp, which markets milk products with a protein variant claimed to have health benefits, had its shares halted from trading pending a statement.

The Sydney-based company, whose shares have more than doubled in the past 12 months, said last week it is in talks with the NZX about shifting its listing to the main board from the NZAX, a market for smaller companies and start-ups.

The shares traded at 67 cents yesterday, valuing the company at $399 million.

"A move to the NZX main board may provide greater liquidity and increase access to capital," managing director Geoffrey Babidge said last week.

Last month, the company completed a six-month strategic review and has embarked on plans to take control of its New Zealand marketing and accelerate its global expansion.

(BusinessDesk)

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NZ Market Snapshot

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NI225 17511.0 17621.4 17210.0 2.39%