IRG signs contract to advise company listing onto NZX
Investment Research Group signs in on contract to advise a second company onto a possible NZX listing.
A contract has been signed by Investment Research Group (IRG) in order to advise a second company looking to make its way onto the NZX.
The signing comes after Malaysian Internet service provider Mykris became listed on the NZX in January early this year.
Further details surrounding the listing of the currently anonymous company will be released within four to five weeks, according to a statement made by managing director Brent King.
“There are a number of issues to be completed before there is any certainty, however we are confident it will proceed,” said Mr King.
“The process is likely to follow the previous model of IRG shareholders receiving shares in the new company.”
In January, the Malaysian company listed at 25 apiece on the NZAX, with trades hitting as high as 37 cents.
It had previously traded at 30 cents a share which in turn valued the company at around NZ$18 million, where shareholders of Investment Research Group received around NZ$480,000 worth of these shares.
Investment Research Group chairman Marvin Yee said the group is currently refining current negotiations and business growth opportunities with the company.
“We are actively looking for growth opportunities and we will advise the market if and when there is progress to a point of a conditional agreement,” added Mr Yee.
NBR Staff
Tue, 06 Mar 2012
Tue, 06 Mar 2012
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IRG signs contract to advise company listing onto NZX
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