Trade Me Group Limited ("Trade Me") is pleased to announce the successful
completion of its initial public offering ("IPO"). Trade Me will now become
a stand-alone company, publicly listed on both the NZSX and ASX under the
The IPO raised a total of NZ$363.5 million and a total of 134.6 million
shares have been issued to new investors (including those issued to Trade Me
staff under the Executive Share Plan). Fairfax Media will hold the remaining
66% of the shares in Trade Me.
Trade Me chairman David Kirk said the offer attracted strong support from a
wide range of institutional and retail investors.
"We have a strong and diverse range of shareholders including Trade Me
members, mums and dads, institutions, and Trade Me staff. We''re looking
forward to serving these investors well in the years ahead. We''re also
looking forward to the start of trading today, and taking the next exciting
step in Trade Me''s evolution."
Jon Macdonald, CEO of Trade Me, said it was great giving New Zealanders the
chance to own shares in a website many of them know and use, but it was back
to business as usual for the team at Trade Me. "As we''ve said throughout the
IPO process, being publicly listed will not change our focus on providing
safe and trusted marketplaces for Kiwis to buy and sell."
Trading in Trade Me shares will begin today at 12pm New Zealand time.
Upon listing, Trade Me will have a market capitalisation of approximately
NZD$1.07 billion based on the offer price of NZ$2.70 per share.
CONTACT: Paul Ford, Trade Me
Phone 04 803 2611
End CA:00217595 For:TME Type:LISTING Time:2011-12-13 10:09:22