NetGuide NZ - Trade Me shares climb on IPO

Warning: This story was published more than a year ago.
trademe_front_page.jpg

Trade Me shares climb on IPO

Update: Trade Me shares reached $2.90 by close of trading.

Story: Shares in Trade Me have shot up since the trading site launched on the NZX at midday today, and could reach $3 by close of trading this afternoon.

Debuting at $2.70, the shares have shot up to $2.83 in under an hour, an increase of 4.81%. Trade Me has also been listed on the ASX.

Owner Fairfax Media announced in August that it would sell a 30-35% stake in the site it acquired in 2006.

Since then equity researchers Woodward Research have endorsed the company, saying it presents a sound investment despite saturation in the New Zealand market.

Go here to follow Trade Me on the NZX (the code is TME).

Interested in this topic?
We can put you in touch with an expert.

Follow Us

Featured

next-story-thumb Scroll down to read: