Company listing on the cards?
There is media speculation that discussions may be under way to relist Trade Me on stock exchanges in New Zealand and Australia in 2024.
Private-equity company Apax Partners, which bought Trade Me for $2.56 billion five years ago, is considering listing it again, according to the NZ Herald.
The newspaper says two separate sources have confirmed this, with one saying London-based Apax has not officially appointed advisers for any transaction but is “considering exit options”.
These appear to include a full or partial dual-listing on the NZX and ASX, or a trade sale to a competitor or another private-equity firm, the Herald understands. A partial listing may be the preferred option because the asset is too large to list in full at once.
However, Trade Me chief executive Anders Skoe say it’s “business as usual” in an emailed statement. “There are no immediate plans for our owners to sell,” he says. “We’re focused on what we do best – making it easy for Kiwis to buy and sell on a safe and trusted platform.”
Trade Me had been listed for eight years on the NZX and ASX when Apax paid shareholders NZ$6.45 per share to take it private in February 2019. Click here for the NZ Herald’s full story.
