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Unlisted Adds ProTen

Unlisted Adds ProTen

Unregistered securities trading facility Unlisted has announced that Australia-based poultry farming company ProTen Limited begins quotation on the facility tomorrow (Tuesday 18 November), bringing the number of issuers to 22.

Unlisted Manager Bruce Cossill said “Unlisted is delighted to welcome ProTen to the platform. I have been liaising with ProTen for some time and it is a pleasure to add a new issuer onto Unlisted in the current environment.”

ProTen, formerly based in New Zealand and now an Australian-registered company with poultry farming operations in a number of locations, has about 255 mostly New Zealand-based shareholders.

ProTen’s Executive Director Max Bryant commented “ProTen has been looking at coming onto Unlisted for a while. We feel now is the right time and it’s a great step forward for the company and its investors. Taking ProTen onto Unlisted will provide our shareholders with a cost-effective share pricing and trading service.”

Mr Cossill said “We’re hoping ProTen is the first of a number of new issuers for Unlisted this financial year. We are seeing interest at the moment from a number of distinct categories – Portfolio Investment Entities (PIEs) like DNZ Property Fund; companies looking to de-list from the NZX to reduce compliance costs like Wool Equities and BotryZen; and companies looking to raise capital where investors will want to see a clear pricing and exit path in the current investment climate.

“We also expect that some of the frozen mortgage trust funds will look to Unlisted as an opportunity to give unit holders some early relief by providing liquidity, price transparency and settlement certainty.”

ENDS

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