SmartPay mulls Australian listing
Merchant services company SmartPay said it is considering listing on the Australian Stock Exchange (ASX).The company's shares last traded at 3.4 cents each on the NZX.Ian Bailey, managing director of SmartPay, said an ASX listing would provide SmartPay wi
Merchant services company SmartPay said it is considering listing on the Australian Stock Exchange (ASX).
The company's shares last traded at 3.4 cents each on the NZX.
Ian Bailey, managing director of SmartPay, said an ASX listing would provide SmartPay with access to a much larger capital market and a larger number of potential acquisition targets, both of which would assist in growing the company.
The board would look at all the options and then prepare a recommendation along with a timetable.
"Ultimately this will increase the liquidity and diversity of SmartPay by introducing more shareholders on both sides of the Tasman," Mr Bailey said.
"In terms of growing the business, we will be putting significant emphasis into the Australian market making SmartPay a truly Australasian company. An ASX listing is an appropriate and logical next step."
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