A2 in talks with NZX about shifting to main board
By Paul McBeth
Nov. 20 (BusinessDesk) - A2 Corp, which markets milk products with a protein variant claimed to have health benefits, is in talks with the New Zealand Stock Exchange about shifting its listing on the main board.
The company, currently listed on the alternative market, qualifies for listing on the NZX main board, and managing director Geoffrey Babidge says that is a more recognised market and can provide better transparency and investor protection, according to a presentation at today's annual meeting.
"A move to the NZX main board may provide greater liquidity and increase access to capital," Babidge said. "To this end, the company has commenced discussions with NZX regarding a move to the NZX main board."
Last month, the company completed a six-month strategic review and has embarked on plans to take control of its New Zealand marketing and accelerate its global expansion.
A2 recently entered into a Chinese distribution arrangement with China State Farm Holding Shanghai Company, a subsidiary of state-owned China National Agriculture Development Group Corp, as the exclusive distributor of its A2 brand infant formula.
The shares were unchanged at 65 cents, having surged 154 percent this year. That values the company at $393 million.