The merchant services company of New Zealand, SmartPay Ltd has said it is seeking a listing on the Australian Stock Exchange (ASX). The shares of the company last traded at 3.4 cents per share at the New Zealand Stock Exchange.
The managing director of SmartPay Ltd, Ian Bailey said the ASX listing would provide an access to a much larger capital market for the company. The listing on ASX will enable the company a larger number of acquisition targets which would help the company to grow its business in the global market.
The SmartPay board will consider all the options and then prepare a recommendation along with a timetable. This move will definitely raise the liquidity and diversity of the company by bringing more number of shareholders to it.
To list the company in the ASX the board of SmartPay is giving emphasis to make the company a truly Australian company. The merchant firm of New Zealand is hoping for a good increase in its market position after the listing in the Australian Stock Exchange. The share price of the company also rose after this news.
