Cavotec MSL Holdings, which is listed on the NZX but has its corporate offices in Switzerland, is exploring a possible secondary listing as it seeks a higher international profile.Cavotec designs and makes a range of mobile power systems. It has 10 resear
Cavotec MSL Holdings, which is listed on the NZX but has its corporate offices in Switzerland, is exploring a possible secondary listing as it seeks a higher international profile.
Cavotec designs and makes a range of mobile power systems. It has 10 research and engineering centres in Europe, the United States and this country. In early 2007 it was acquired in a reverse takeover by Mooring Systems, which then changed its name.
Today Cavotec said Sweden's Handelsbanken was exploring a secondary listing on the Nasdaq OMX First North stock exchange -- an alternative marketplace for small growth companies, providing opportunities to raise capital from Nordic and Baltic investors.
A secondary listing was an important step to further broadening Cavotec's shareholder base internationally, and to providing more ways to maximise shareholder value.
"Lower liquidity on the NZX, coupled with falls in overall trading volumes over the past year, has underlined the necessity of seeking alternative routes to capitalise on future opportunities," Cavotec chief executive Ottonel Popesco said.
A secondary listing would also provide Cavotec with more ways to raise capital to support longer term growth strategies, while simultaneously closing the gap between a listing in New Zealand and the company's expanding manufacturing base outside the Pacific Rim region.
