Briscoe Group said it will be admitted to the official list of the ASX, as a foreign exempt entity, from midday in Australia Wednesday and official quotation of the group's securities will begin at 11 am Sydney time Thursday.
The entity has been allocated the ASX code of BGP.
In May the company said it would apply to list on the ASX as a foreign exempt entity but wasn't planning on raising new capital. Briscoe is controlled by managing director Rod Duke, who owns more than three-quarters of the country's biggest retailer, and 91 percent of the stock is held by 32 of Briscoe's 3,393 shareholders.
"We believe that the greater visibility from a dual-listing will contribute to increased investor interest and a broader shareholder base which will increase our ability to take advantage of fresh opportunities that we identify," Duke said in a release to the New Zealand stock exchange Monday.
Briscoe shares rose 0.8 percent to $4.01 on the NZXand have gained 25 percent over the past 12 months.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Rich List 2017 special: trends and behind-the-scenes gossip with Susan Wood, Owen Poland, Grant Walker & Duncan Bridgeman
- There are some weird symmetries with Election 2014 already, says Rob Hosking
- ZeroPoint co-founder Dan Khan outlines the key ways it plans to help Kiwi startups grow
- Craigs' Mark Lister on the outlook for earnings
- Nevil Gibson describes latest developments in US travel bans that have left thousands in legal limbo
- NBR Radio: best of the week ended July 21, with Grant Walker