NZIJ.co.nz NCM Listing
A successful capital raising for NZIJ.co.nz meant that the offer of $600,000 was fully subscribed when the company listed on the NZSE's New Capital Market (NCM) today.
NZIJ.co.nz is the first financial services focussed company to list on the NCM. The three week offer period attracted over 320 New Zealand investors.
"The NCM listing will make our businesses more transparent than ever," said NZIJ.co.nz director, John Reuhman.
"As well as making us the only locally listed stockbroker in New Zealand, the NCM gives our clients the protection of increased compliance procedures," he said.
The directors of NZIJ.co.nz have identified the acquisition of Reuhman and Co., a Member Firm of the NZSE, an investment banking firm, and the New Zealand Investment Journal, as a Potential Key Transaction.
Wellington broker Reuhman and Co. has been operating for seven years, and is focused on two market niches, portfolio management for affluent private investors and investment banking for applied technology companies. Successful capital raisings they have organised include Submarine Adventures and GreenTek.
New Zealand Investment Journal Limited has published the New Zealand Investment Journal 11 times a year since 1994 and is a leading non-advice financial intermediary and investment information provider, offering free entry into managed funds.
NZIJ.co.nz was listed today, there were no trades but buy orders at 50c and sell orders at 55c.