Geneva completes move

Geneva Finance has begun trading its ordinary shares on the Unlisted Securities Exchange (USX) after delisting from the NZX main board.

With nearly 73 million shares issued, it commenced trading on the USX on July 18 following its final day of activity on the NZX three days earlier. 

The shift comes after a majority of Geneva Finance shareholders voted in favour of the move at a meeting early this month.

Robin King, chairman, told the meeting that joining the USX was a strategic move to help the company “streamline operations, reduce costs, and focus more on growing our core business”.

A description of Geneva Finance on the USX highlights that the company lends money to individuals, companies, and other entities primarily in New Zealand and Tonga. 

It offers personal and car loans, provides insurance products, including motor vehicle, and mechanical breakdown insurance, as well as death, and also offers debt collection and invoice factoring services. 

The company, based in Auckland, was formerly known as GFNZ Group and changed its name to Geneva Finance in June 2016.