Trade Me shares drift down
A strong result is balanced by fears about the auction site's majority shareholder, Fairfax.
Trade Me shares drifted downward today. In late trading, the company [NZX:TME] was down 0.32% to $3.13.
A strong result, in line with prospectus targets, has been counter-balanced by concerns that Fairfax Media, which retains a 66% holding, might attempt to plunder Trade Me's balance sheet.
This afternoon, Fairfax recorded another challenging result with profit down 41%.
Trade Me listed on the NZX on Deceber 12, priced at $2.70.
NBR staff
Thu, 23 Feb 2012
Thu, 23 Feb 2012
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Trade Me shares drift down
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