Serko, mulling listing, names Simon Botherway as chair, taps 2 other independent directors

L-R: Simon Botherway, Claudia Batten and Clyde McConaghy (far left) join Darrin Grafton and Bob Shaw on Serko's board

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

Serko, the online business travel booking company that has considered going public with an NZX listing, named Simon Botherway as chairman and tapped two other independent directors.

Botherway is a former fund manager and headed the Financial Markets Establishment Board, which advised the government on setting up the Financial Markets Authority. He will join Icehouse New Zealand board member Claudia Batten and Clyde McConaghy, a director of ASX-listed Infomedia, Auckland-based Serko said in a statement.

In May last year Serko founders Bob Shaw and Darrin Grafton said they may sell 25 percent of the company in an initial public offering, aiming to raise $20 million, though as yet no sale has been announced. The company doesn't currently have an update on a possible sale, a spokeswoman said today.

Shaw and Grafton started a company called Interactive Technologies in 1994 and created its main Serko Online product in 2000, according to its website.

This later became part of Gulliver's Travel Group, which listed on the ASX and NZX before being acquired by Australia's S8 in 2006, which was then swallowed up by MFS. Shaw and Grafton then purchased the Serko assets from MFS in 2007, according to a timeline on the website.

Serko has offices in Auckland, Sydney, China's Xi'an City and Gurgaon, India and employs more than 90 people, its statement said. It is part of the Mundi Global Alliance, made up of three corporate travel service companies.

(BusinessDesk)


This article is tagged with the following keywords. Find out more about MyNBR Tags

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7567 0.0000 0.00%
AUD 0.9753 0.0000 0.00%
EUR 0.6945 0.0000 0.00%
GBP 0.5084 0.0000 0.00%
HKD 5.8650 0.0000 0.00%
JPY 90.0730 0.0000 0.00%

Commods

Commodity Price Change Time
Gold Index 1198.2 -6.000 2015-03-27T00:
Oil Brent 56.4 2.710 2015-03-27T00:
Oil Nymex 48.9 -2.560 2015-03-27T00:
Silver Index 17.1 -0.071 2015-03-27T00:

Indices

Symbol Open High Last %
NZX 50 5833.2 5854.2 5833.2 0.36%
NASDAQ 4863.7 4899.3 4863.4 0.57%
DAX 11920.2 11954.1 11843.7 0.21%
DJI 17673.6 17729.1 17678.2 0.19%
FTSE 6895.3 6910.6 6895.3 -0.58%
HKSE 24541.4 24549.9 24497.1 -0.04%
NI225 19374.7 19590.0 19471.1 -0.95%